XLMUSD closes higher for the 2nd day in a row

Stellar/US Dollar Index (XLMUSD) Technical Analysis Report for Nov 10, 2019 | by Techniquant Editorial Team


XLMUSD dominated by bulls lifting the market higher throughout the day
XLMUSD closes higher for the 2nd day in a row
XLMUSD pushes through Saturday's high


Moving higher for the 2nd day in a row, XLMUSD finished Sunday at 0.0790 surging $0.0062 (8.52%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Saturday's high at 0.0734, XLM/USD confirmed its breakout through the prior session high after trading up to $0.0081 above it intraday.

Daily Candlestick Chart (XLMUSD as at Nov 10, 2019):

Daily technical analysis candlestick chart for Stellar/US Dollar Index (XLMUSD) as at Nov 10, 2019

Sunday's trading range has been $0.0085 (11.61%), that's far above the last trading month's daily average range of $0.0053. Weekly volatility is also higher, being slightly above the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for XLMUSD.

Two candlestick patterns are matching today's price action, the White Candle which is known as bullish pattern and one bearish pattern, the Bearish Hikkake Pattern. The last time a Bearish Hikkake Pattern showed up on October 28th, XLMUSD actually gained 1.37% on the following trading day.

While still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Among the seven market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Hikkake Pattern" stand out. Its common bearish interpretation has been confirmed for XLM/USD. Out of 63 times, XLMUSD closed lower 58.73% of the time on the next trading day after the market condition occurred.

With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are BCHUSD gaining 3.73% and EOSUSD closing 3.16% higher. On the flipside the worst performer has been XRPUSD closing -0.14% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been VETBTC surging 6.78% and DOGEUSD closing 6.17% higher. The worst performers of the day have been KMDBTC tanking -9.82% and KMDUSD closing -7.06% lower. Read more

Market Conditions for XLMUSD as at Nov 10, 2019

Loading Market Conditions for XLMUSD (Stellar/US Dollar Index)...
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