Forex Market Technical Analysis Summary for Jan 24, 2020


Major FX Pairs Technical Analysis Market Overview Report for Jan 24, 2020 | by Techniquant Editorial Team

Highlights

NZDUSD closes below its opening price unable to hold early session gains
GBPUSD closes lower for the 2nd day in a row
EURUSD falls to lowest close since November 29, 2019
USDCHF pushes through Thursday's high
USDJPY breaks below 20-day moving average for the first time since January 7th
AUDUSD breaks below Thursday's low
USDCAD climbs to highest close since December 24, 2019

Summary

With five out of the seven Major FX Pairs closing lower today, the ones that stand out on the negative side are GBPUSD losing -0.41% and AUDUSD closing -0.34% lower. On the flipside the best performers have been USDCHF closing 0.23% higher and USDCAD gaining 0.14%.

One of today's most interesting market conditions in the Major FX Pairs showed up in AUDUSD: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 100" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for AUD/USD. Out of 84 times, AUDUSD closed higher 52.38% 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 55.95% 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 USDNOK surging 0.57% and USDPLN closing 0.53% higher. The worst performers of the day have been GBPJPY tanking -0.6% and AUDJPY closing -0.53% lower.

Major FX Pairs Overviews

NZDUSD 0.6607 -0.0012 (-0.18%) NZDUSD ended the week -0.09% lower at 0.6607 after losing 12 pips (-0.18%) today. Trading 11 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 failed to decisively move beyond the previous day's trading range in a lackluster session. Read more
GBPUSD 1.3072 -0.0054 (-0.41%) Moving lower for the 2nd day in a row, GBPUSD finished the week 0.48% higher at 1.3072 after losing 54 pips (-0.41%) today on high volume. Trading 51 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 below Thursday's low at 1.3097, the FX pair confirmed its breakout through the previous session low after trading up to 40 pips below it intraday. Read more
EURUSD 1.1025 -0.0031 (-0.28%) Moving lower for the 2nd day in a row, EURUSD ended the week -0.59% lower at 1.1025 after losing 31 pips (-0.28%) today on high volume. Today's close at 1.1025 marks the lowest recorded closing price since November 29, 2019. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 1.1036, the currency confirmed its breakout through the previous session low after trading up to 16 pips below it intraday. Read more
USDCHF 0.9712 0.0022 (0.23%) Moving higher for the 2nd day in a row, USDCHF ended the week 0.34% higher at 0.9712 after gaining 22 pips (0.23%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 0.9704, the market confirmed its breakout through the prior session high after trading up to 14 pips above it intraday. Read more
USDJPY 109.28 -0.21 (-0.19%) Moving lower for the 4th day in a row, USDJPY ended the week -0.8% lower at 109.28 after losing 21 pips (-0.19%) today on high volume. Trading 16 pips higher after the open, the Yen was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on Wednesday, USDJPY lost -0.32% 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
AUDUSD 0.6825 -0.0023 (-0.34%) AUDUSD finished the week -0.7% lower at 0.6825 after losing 23 pips (-0.34%) today. Today's close at 0.6825 marks the lowest recorded closing price since December 10, 2019. Closing below Thursday's low at 0.6830, the currency confirmed its breakout through the previous session low after trading up to 12 pips below it intraday. Read more
USDCAD 1.3146 0.0019 (0.14%) USDCAD ended the week 0.6% higher at 1.3146 after gaining 19 pips (0.14%) today. Today's close at 1.3146 marks the highest recorded closing price since December 24, 2019. 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 Euro/Danish Krone (EURDKK) as at Apr 01, 2020
Apr 01, 2020
Daily technical analysis candlestick chart for Australian Dollar/Singapore Dollar (AUDSGD) as at Apr 01, 2020
Apr 01, 2020
Daily technical analysis candlestick chart for British Pound/Swiss Franc (GBPCHF) as at Apr 01, 2020
Apr 01, 2020
Daily technical analysis candlestick chart for Australian Dollar/Swiss Franc (AUDCHF) as at Apr 01, 2020
Apr 01, 2020
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