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

Highlights

USDJPY pushes through key technical resistance level
EURUSD pushes through Thursday's high
USDCAD finds buyers around 1.3313 for the third day in a row
AUDUSD pops to highest close since February 26th
GBPUSD closes within previous day's range after lackluster session
NZDUSD still stuck within tight trading range
USDCHF finds support at 50-day moving average

Summary

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.

Major FX Pairs Overviews

USDJPY 112.02 0.36 (0.32%) Moving higher for the 2nd day in a row, USDJPY ended the week 0.27% higher at 112.02 after gaining 36 pips (0.32%) today. Today's close at 112.02 marks the highest recorded closing price since December 19, 2018. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 111.69, the pair confirmed its breakout through the prior session high after trading up to 40 pips above it intraday. Read more
EURUSD 1.1299 0.0045 (0.40%) EURUSD finished the week 0.74% higher at 1.1299 after surging 45 pips (0.4%) today. Closing above Thursday's high at 1.1287, the currency confirmed its breakout through the prior session high after trading up to 37 pips above it intraday. Read more
USDCAD 1.3326 -0.0058 (-0.43%) USDCAD ended the week -0.43% lower at 1.3326 after losing 58 pips (-0.43%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
AUDUSD 0.7173 0.0049 (0.69%) AUDUSD ended the week 0.96% higher at 0.7173 after surging 49 pips (0.69%) today. This is the biggest single-day gain in over two months. The last time we've seen such an unusually strong single-day gain on Wednesday, AUDUSD actually lost -0.66% on the following trading day. Today's close at 0.7173 marks the highest recorded closing price since February 26th. Read more
GBPUSD 1.3073 0.0018 (0.14%) GBPUSD finished the week 0.28% higher at 1.3073 after gaining 18 pips (0.14%) today on low volume. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
NZDUSD 0.6763 0.0035 (0.52%) NZDUSD ended the week 0.46% higher at 0.6763 after gaining 35 pips (0.52%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more
USDCHF 1.0026 -0.0007 (-0.07%) USDCHF finished the week 0.24% higher at 1.0026 after losing 7 pips (-0.07%) today. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more

Detailed Reports

Daily technical analysis candlestick chart for New Zealand Dollar/Singapore Dollar (NZDSGD) as at Jul 17, 2019
Jul 17, 2019
Daily technical analysis candlestick chart for Canadian Dollar/Singapore Dollar (CADSGD) as at Jul 17, 2019
Jul 17, 2019
Daily technical analysis candlestick chart for Swiss Franc/Japanese Yen (CHFJPY) as at Jul 17, 2019
Jul 17, 2019
Daily technical analysis candlestick chart for Australian Dollar/New Zealand Dollar (AUDNZD) as at Jul 17, 2019
Jul 17, 2019
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