Forex Market Technical Analysis Summary for Mar 25, 2020
Major FX Pairs Technical Analysis Market Overview Report for Mar 25, 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 GBPUSD gaining 1.01% and EURUSD closing 0.86% higher. On the flipside the worst performers have been USDCAD closing -1.88% lower and USDCHF losing -0.45%.
One of today's most interesting market conditions in the Major FX Pairs showed up in AUDUSD: Among the five market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "4 Consecutive Higher Closes" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for AUD/USD. Out of 73 times, AUDUSD closed lower 56.16% 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 three trading days, showing a win rate of 53.42% with an average market move of -0.00%. Read more
Looking at the Minor FX Pairs and Crosses, the winners of the day have been CADSGD surging 2.0% and CADHKD closing 1.91% higher. The worst performers of the day have been USDMXN tanking -3.67% and USDNOK closing -3.18% lower.