Forex Market Technical Analysis Summary for Dec 02, 2019


Major FX Pairs Technical Analysis Market Overview Report for Dec 02, 2019 | by Techniquant Editorial Team

Highlights

USDJPY plunges, losing 52 pips (-0.47%) within a single day
NZDUSD dominated by bulls lifting the market higher throughout the day
USDCAD finds buyers around 1.3273 for the third day in a row
AUDUSD fails to close above 100-day moving average
EURUSD rallies, gaining 60 pips (0.54%) within a single day
GBPUSD runs into sellers around 1.2949 for the third day in a row
USDCHF dominated by bears dragging the market lower throughout the day

Summary

With five out of the seven Major FX Pairs closing higher today, the ones that stand out on the positive side are NZDUSD gaining 1.25% and AUDUSD closing 0.84% higher. On the flipside the worst performers have been USDCHF closing -0.88% lower and USDJPY losing -0.47%.

One of today's most interesting market conditions in the Major FX Pairs showed up in USDCAD: Among the 12 market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 200" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for USD/CAD. Out of 53 times, USDCAD closed lower 54.72% 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 56.60% with an average market move of -0.23%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been NZDCAD surging 1.45% and NZDHKD closing 1.24% higher. The worst performers of the day have been USDHUF tanking -1.33% and USDPLN closing -1.19% lower.

Major FX Pairs Overviews

USDJPY 108.98 -0.52 (-0.47%) Moving lower for the 3rd day in a row, USDJPY ended Monday at 108.98 tanking 52 pips (-0.47%). This is the biggest single-day loss in over a month. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 109.40, the forex pair confirmed its breakout through the previous session low after trading up to 47 pips below it intraday. Read more
NZDUSD 0.6503 0.0080 (1.25%) Moving higher for the 3rd day in a row, NZDUSD finished Monday at 0.6503 surging 80 pips (1.25%). This is the biggest single-day gain in over two weeks. Today's close at 0.6503 marks the highest recorded closing price since August 6th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 0.6438, the currency confirmed its breakout through the previous session high after trading up to 73 pips above it intraday. Read more
USDCAD 1.3309 0.0031 (0.23%) USDCAD ended Monday at 1.3309 gaining 31 pips (0.23%). Today's close at 1.3309 marks the highest recorded closing price since October 9th. The bulls were in full control today, moving the market higher 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 0.6819 0.0057 (0.84%) AUDUSD ended Monday at 0.6819 surging 57 pips (0.84%). This is the biggest single-day gain in over a month. The last time we've seen such an unusually strong single-day gain on October 17th, AUDUSD gained 0.48% on the following trading day. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 0.6779, the currency confirmed its breakout through the previous session high after trading up to 47 pips above it intraday. Read more
EURUSD 1.1079 0.0060 (0.54%) Moving higher for the 3rd day in a row, EURUSD finished Monday at 1.1079 surging 60 pips (0.54%). 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 October 17th, EURUSD gained 0.42% on the following trading day. Today's close at 1.1079 marks the highest recorded closing price since November 4th. Closing above Friday's high at 1.1028, the forex pair confirmed its breakout through the prior session high after trading up to 62 pips above it intraday. Read more
GBPUSD 1.2942 0.0005 (0.04%) Moving higher for the 4th day in a row, GBPUSD ended Monday at 1.2942 edging higher 5 pips (0.04%). 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
USDCHF 0.9913 -0.0088 (-0.88%) USDCHF finished Monday at 0.9913 tanking 88 pips (-0.88%). This is the biggest single-day loss in over three months. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 0.9981, the market confirmed its breakout through the previous session low after trading up to 69 pips below it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for Canadian Dollar/Swiss Franc (CADCHF) as at Dec 13, 2019
Dec 13, 2019
Daily technical analysis candlestick chart for Euro/Hong Kong Dollar (EURHKD) as at Dec 13, 2019
Dec 13, 2019
Daily technical analysis candlestick chart for Canadian Dollar/Hong Kong Dollar (CADHKD) as at Dec 13, 2019
Dec 13, 2019
Daily technical analysis candlestick chart for Euro/Norwegian Krone (EURNOK) as at Dec 13, 2019
Dec 13, 2019
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