Forex Market Technical Analysis Summary for Jan 15, 2020
Major FX Pairs Technical Analysis Market Overview Report for Jan 15, 2020 | by Techniquant Editorial Team
With four out of the seven Major FX Pairs closing higher today, the ones that stand out on the positive side are EURUSD gaining 0.21% and GBPUSD closing 0.15% higher. On the flipside the worst performers have been USDCHF closing -0.35% lower and USDCAD losing -0.15%.
One of today's most interesting market conditions in the Major FX Pairs showed up in EURUSD: Among the five market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Break through SMA 20" stand out. Although it is usually interpreted as bullish, it has actually shown to be bearish for EUR/USD. Out of 160 times, EURUSD closed lower 56.88% 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 56.88% with an average market move of -0.14%. Read more
Looking at the Minor FX Pairs and Crosses, the winners of the day have been CHFHKD surging 0.28% and CHFZAR closing 0.26% higher. The worst performers of the day have been USDCZK tanking -0.49% and NZDCHF closing -0.31% lower.