Forex Market Technical Analysis Summary for Mar 14, 2019


Major FX Pairs Technical Analysis Market Overview Report for Mar 14, 2019 | by Techniquant Editorial Team

Highlights

NZDUSD breaks back below 20-day moving average
AUDUSD breaks below key technical support level
USDJPY surges, gaining 53 pips (0.48%) within a single day
USDCAD closes within prior day's range after lackluster session
EURUSD runs into sellers again around 1.1338
GBPUSD finds buyers at key support level
USDCHF closes lower for the 3rd day in a row

Summary

With five out of the seven Major FX Pairs closing lower today, the ones that stand out on the negative side are GBPUSD losing -0.73% and NZDUSD closing -0.48% lower. On the flipside the best performers have been USDJPY closing 0.48% higher and USDCAD gaining 0.26%.

One of today's most interesting market conditions in the Major FX Pairs showed up in AUDUSD: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to previous two Highs" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for AUD/USD. Out of 137 times, AUDUSD closed higher 54.01% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 59.85% with an average market move of 0.13%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been CHFZAR surging 0.82% and USDZAR closing 0.8% higher. The worst performers of the day have been GBPHKD tanking -0.73% and GBPCHF closing -0.72% lower.

Major FX Pairs Overviews

NZDUSD 0.6825 -0.0033 (-0.48%) Moving lower for the 2nd day in a row, NZDUSD ended Thursday at 0.6825 losing 33 pips (-0.48%). Closing below Wednesday's low at 0.6829, the market confirmed its breakout through the prior session low after trading up to 20 pips below it intraday. Read more
AUDUSD 0.7064 -0.0031 (-0.44%) AUDUSD ended Thursday at 0.7064 losing 31 pips (-0.44%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
USDJPY 111.69 0.53 (0.48%) USDJPY finished Thursday at 111.69 surging 53 pips (0.48%). This is the biggest single-day gain in over a month. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 111.46, the FX pair confirmed its breakout through the previous session high after trading up to 37 pips above it intraday. Read more
USDCAD 1.3335 0.0035 (0.26%) USDCAD ended Thursday at 1.3335 gaining 35 pips (0.26%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Read more
EURUSD 1.1304 -0.0024 (-0.21%) EURUSD ended Thursday at 1.1304 losing 24 pips (-0.21%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more
GBPUSD 1.3241 -0.0097 (-0.73%) GBPUSD ended Thursday at 1.3241 losing 97 pips (-0.73%) on high volume. The bears were in full control today, moving the market lower throughout the whole session. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more
USDCHF 1.0038 -0.0001 (-0.01%) Moving lower for the 3rd day in a row, USDCHF finished Thursday at 1.0038 losing 1 pip (-0.01%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Read more

Detailed Reports

Daily technical analysis candlestick chart for Euro/Canadian Dollar (EURCAD) as at Mar 19, 2019
Mar 19, 2019
Daily technical analysis candlestick chart for Euro/Japanese Yen (EURJPY) as at Mar 19, 2019
Mar 19, 2019
Daily technical analysis candlestick chart for Swiss Franc/Japanese Yen (CHFJPY) as at Mar 19, 2019
Mar 19, 2019
Daily technical analysis candlestick chart for Canadian Dollar/Swiss Franc (CADCHF) as at Mar 19, 2019
Mar 19, 2019
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