Forex Market Technical Analysis Summary for Dec 13, 2019


Major FX Pairs Technical Analysis Market Overview Report for Dec 13, 2019 | by Techniquant Editorial Team

Highlights

USDCAD unable to break through key resistance level
EURUSD closes below its opening price unable to hold early session gains
AUDUSD finds buyers again around 0.6864
USDJPY closes within prior day's range
GBPUSD pushes through Thursday's high
USDCHF finds buyers around 0.9806 for the third day in a row
NZDUSD closes below its opening price unable to hold early session gains

Summary

With five out of the seven Major FX Pairs closing lower today, the ones that stand out on the negative side are AUDUSD losing -0.49% and USDCAD closing -0.12% lower. On the flipside the best performers have been GBPUSD closing 1.2% higher and USDJPY gaining 0.04%.

One of today's most interesting market conditions in the Major FX Pairs showed up in NZDUSD: Among the four market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Hikkake Pattern" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for NZD/USD. Out of 117 times, NZDUSD closed higher 53.85% 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 two trading days, showing a win rate of 52.99% with an average market move of -0.02%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been GBPAUD surging 1.63% and GBPZAR closing 1.37% higher. The worst performers of the day have been EURGBP tanking -1.3% and EURNOK closing -0.64% lower.

Major FX Pairs Overviews

USDCAD 1.3167 -0.0016 (-0.12%) USDCAD finished the week -0.66% lower at 1.3167 after losing 16 pips (-0.12%) today on high volume. Today's close at 1.3167 marks the lowest recorded closing price since November 5th. Trading 20 pips higher after the open, the FX pair was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on Tuesday, USDCAD lost -0.44% on the following trading day. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Read more
EURUSD 1.1121 -0.0010 (-0.09%) EURUSD finished the week 0.55% higher at 1.1121 after losing 10 pips (-0.09%) today on high volume. Trading 46 pips higher after the open, the market 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 failed to decisively move beyond the prior day's trading range. Read more
AUDUSD 0.6875 -0.0034 (-0.49%) AUDUSD ended the week 0.5% higher at 0.6875 after losing 34 pips (-0.49%) today on high volume. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more
USDJPY 109.35 0.04 (0.04%) Moving higher for the 2nd day in a row, USDJPY finished the week 0.7% higher at 109.35 after gaining 4 pips (0.04%) today on high volume. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
GBPUSD 1.3334 0.0158 (1.20%) GBPUSD finished the week 1.48% higher at 1.3334 after surging 158 pips (1.2%) today on high volume. This is the biggest single-day gain in over a month. Today's close at 1.3334 marks the highest recorded closing price since March 13th. Closing above Thursday's high at 1.3230, the forex pair confirmed its breakout through the previous session high after trading up to 285 pips above it intraday. Read more
USDCHF 0.9840 -0.0007 (-0.07%) USDCHF finished the week -0.64% lower at 0.9840 after losing 7 pips (-0.07%) today on high volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more
NZDUSD 0.6594 -0.0004 (-0.06%) NZDUSD finished the week 0.43% higher at 0.6594 after losing 4 pips (-0.06%) today on high volume. Trading 36 pips higher after the open, the forex pair was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on Tuesday, NZDUSD actually gained 0.63% on the following trading day. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more

Detailed Reports

Daily technical analysis candlestick chart for Australian Dollar/Hong Kong Dollar (AUDHKD) as at Sep 25, 2020
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Daily technical analysis candlestick chart for Australian Dollar/Singapore Dollar (AUDSGD) as at Sep 25, 2020
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Daily technical analysis candlestick chart for Australian Dollar/Canadian Dollar (AUDCAD) as at Sep 25, 2020
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Daily technical analysis candlestick chart for British Pound/Polish Zloty (GBPPLN) as at Sep 25, 2020
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