Forex Market Technical Analysis Summary for Apr 12, 2019
Major FX Pairs Technical Analysis Market Overview Report for Apr 12, 2019 | by Techniquant Editorial Team
With five out of the seven Major FX Pairs closing higher today, the ones that stand out on the positive side are AUDUSD gaining 0.69% and NZDUSD closing 0.52% higher. On the flipside the worst performers have been USDCAD closing -0.43% lower and USDCHF losing -0.07%.
One of today's most interesting market conditions in the Major FX Pairs showed up in AUDUSD: Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed above the upper Bollinger Band" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for AUD/USD. Out of 68 times, AUDUSD closed lower 54.41% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 52.94% with an average market move of -0.61%. Read more
Looking at the Minor FX Pairs and Crosses, the winners of the day have been EURTRY surging 1.1% and AUDJPY closing 1.02% higher. The worst performers of the day have been USDHUF tanking -0.62% and GBPAUD closing -0.57% lower.