Forex Market Technical Analysis Summary for Jan 13, 2020


Major FX Pairs Technical Analysis Market Overview Report for Jan 13, 2020 | by Techniquant Editorial Team

Highlights

USDJPY pushes through Friday's high
EURUSD fails to close above 200-day moving average
AUDUSD fails to close above 20-day moving average
USDCAD finds buyers around 1.3032 for the third day in a row
NZDUSD closes below its opening price unable to hold early session gains
GBPUSD closes lower for the 5th day in a row
USDCHF breaks below Friday's low

Summary

With four out of the seven Major FX Pairs closing higher today, the ones that stand out on the positive side are USDJPY gaining 0.43% and EURUSD closing 0.13% higher. On the flipside the worst performers have been GBPUSD closing -0.58% lower and USDCHF losing -0.21%.

One of today's most interesting market conditions in the Major FX Pairs showed up in AUDUSD: Among the three market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Bounce off SMA 20" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for AUD/USD. Out of 144 times, AUDUSD closed higher 54.17% 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 seven trading days, showing a win rate of 53.47% with an average market move of 0.08%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been EURGBP surging 0.7% and CHFJPY closing 0.61% higher. The worst performers of the day have been GBPCHF tanking -0.79% and GBPPLN closing -0.76% lower.

Major FX Pairs Overviews

USDJPY 109.94 0.47 (0.43%) USDJPY ended Monday at 109.94 surging 47 pips (0.43%) on high volume. Today's close at 109.94 marks the highest recorded closing price since May 22, 2019. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 109.69, the pair confirmed its breakout through the prior session high after trading up to 26 pips above it intraday. Read more
EURUSD 1.1135 0.0015 (0.13%) Moving higher for the 3rd day in a row, EURUSD finished Monday at 1.1135 gaining 15 pips (0.13%) on high volume. Closing above Friday's high at 1.1129, the Fiber confirmed its breakout through the previous session high after trading up to 18 pips above it intraday. Read more
AUDUSD 0.6903 0.0003 (0.04%) Moving higher for the 2nd day in a row, AUDUSD ended Monday at 0.6903 edging higher 3 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
USDCAD 1.3056 0.0004 (0.03%) USDCAD finished Monday at 1.3056 gaining 4 pips (0.03%). 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
NZDUSD 0.6630 -0.0005 (-0.08%) NZDUSD ended Monday at 0.6630 edging lower 5 pips (-0.08%). Trading 14 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 prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
GBPUSD 1.2987 -0.0076 (-0.58%) Moving lower for the 5th day in a row, GBPUSD ended Monday at 1.2987 losing 76 pips (-0.58%) on high volume. Read more
USDCHF 0.9708 -0.0020 (-0.21%) Moving lower for the 3rd day in a row, USDCHF ended Monday at 0.9708 losing 20 pips (-0.21%). Closing below Friday's low at 0.9720, the currency confirmed its breakout through the prior session low after trading up to 26 pips below it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for Swiss Franc/South African Rand (CHFZAR) as at Aug 05, 2020
Aug 05, 2020
Daily technical analysis candlestick chart for New Zealand Dollar/Canadian Dollar (NZDCAD) as at Aug 05, 2020
Aug 05, 2020
Daily technical analysis candlestick chart for Australian Dollar/New Zealand Dollar (AUDNZD) as at Aug 05, 2020
Aug 05, 2020
Daily technical analysis candlestick chart for Turkish Lira/Japanese Yen (TRYJPY) as at Aug 05, 2020
Aug 05, 2020
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