Forex Market Technical Analysis Summary for Sep 10, 2019


Major FX Pairs Technical Analysis Market Overview Report for Sep 10, 2019 | by Techniquant Editorial Team

Highlights

USDJPY dominated by bulls lifting the market higher throughout the day
GBPUSD runs into sellers again around 1.2380
USDCAD closes below its opening price unable to hold early session gains
NZDUSD runs into sellers around 0.6442 for the third day in a row
AUDUSD closes within prior day's range after lackluster session
EURUSD stuck within tight trading range
USDCHF fails to close above 100-day moving average

Summary

With five out of the seven Major FX Pairs closing lower today, the ones that stand out on the negative side are USDCAD losing -0.14% and EURUSD closing -0.04% lower. On the flipside the best performers have been USDJPY closing 0.28% higher and GBPUSD gaining 0.11%.

One of today's most interesting market conditions in the Major FX Pairs showed up in USDCAD: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close below the lower Bollinger Band" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for USD/CAD. Out of 97 times, USDCAD closed higher 58.76% 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 50.52% with an average market move of 0.32%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been ZARJPY surging 1.1% and USDHUF closing 0.48% higher. The worst performers of the day have been EURZAR tanking -0.87% and USDZAR closing -0.83% lower.

Major FX Pairs Overviews

USDJPY 107.54 0.30 (0.28%) Moving higher for the 2nd day in a row, USDJPY ended Tuesday at 107.54 gaining 30 pips (0.28%). Today's close at 107.54 marks the highest recorded closing price since July 31st. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Monday's high at 107.27, the market confirmed its breakout through the prior session high after trading up to 32 pips above it intraday. Read more
GBPUSD 1.2358 0.0013 (0.11%) Moving higher for the 2nd day in a row, GBPUSD finished Tuesday at 1.2358 edging higher 13 pips (0.11%). Today's close at 1.2358 marks the highest recorded closing price since July 26th. Trading up to 39 pips lower after the open, the pair managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on September 3rd, GBPUSD gained 1.38% on the following trading day. 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
USDCAD 1.3151 -0.0018 (-0.14%) Moving lower for the 3rd day in a row, USDCAD finished Tuesday at 1.3151 losing 18 pips (-0.14%) on low volume. Today's close at 1.3151 marks the lowest recorded closing price since July 24th. Trading 25 pips higher after the open, the Loonie was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on August 26th, USDCAD actually gained 0.22% on the following trading day. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more
NZDUSD 0.6425 -0.0002 (-0.03%) NZDUSD finished Tuesday at 0.6425 edging lower 2 pips (-0.03%) on low volume. Trading 15 pips higher after the open, the pair was unable to hold its gains as the bears took control ending the day below its opening price. 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
AUDUSD 0.6861 -0.0002 (-0.03%) AUDUSD ended Tuesday at 0.6861 edging lower 2 pips (-0.03%). Trading 8 pips higher after the open, the currency was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
EURUSD 1.1043 -0.0004 (-0.04%) EURUSD finished Tuesday at 1.1043 losing 4 pips (-0.04%). Trading 12 pips higher after the open, the currency was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on September 6th, EURUSD actually gained 0.17% on the following trading day. 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
USDCHF 0.9920 -0.0001 (-0.01%) USDCHF finished Tuesday at 0.9920 edging lower 1 pip (-0.01%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more

Detailed Reports

Daily technical analysis candlestick chart for Canadian Dollar/Singapore Dollar (CADSGD) as at Nov 12, 2019
Nov 12, 2019
Daily technical analysis candlestick chart for Euro/South African Rand (EURZAR) as at Nov 12, 2019
Nov 12, 2019
Daily technical analysis candlestick chart for Euro/British Pound (EURGBP) as at Nov 12, 2019
Nov 12, 2019
Daily technical analysis candlestick chart for US Dollar/Mexican Peso (USDMXN) as at Nov 12, 2019
Nov 12, 2019
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