Forex Market Technical Analysis Summary for Mar 27, 2020


Major FX Pairs Technical Analysis Market Overview Report for Mar 27, 2020 | by Techniquant Editorial Team

Highlights

USDCAD closes below its opening price unable to hold early session gains
GBPUSD breaks above 20-day moving average for the first time since March 9th
EURUSD closes above its opening price after recovering from early selling pressure
USDCHF breaks below Thursday's low
USDJPY breaks back below 200-day moving average
NZDUSD pushes through key technical resistance level
AUDUSD closes higher for the 6th day in a row

Summary

With four out of the seven Major FX Pairs closing higher today, the ones that stand out on the positive side are GBPUSD gaining 2.08% and AUDUSD closing 1.65% higher. On the flipside the worst performers have been USDJPY closing -1.48% lower and USDCHF losing -1.27%.

One of today's most interesting market conditions in the Major FX Pairs showed up in USDJPY: Among the 10 market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 200" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for USD/JPY. Out of 44 times, USDJPY closed higher 56.82% 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 10 trading days, showing a win rate of 54.55% with an average market move of 0.16%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been GBPZAR surging 3.95% and CHFZAR closing 3.11% higher. The worst performers of the day have been ZARJPY tanking -3.32% and TRYJPY closing -2.45% lower.

Major FX Pairs Overviews

USDCAD 1.3988 -0.0032 (-0.23%) Moving lower for the 4th day in a row, USDCAD ended the week -2.51% lower at 1.3988 after losing 32 pips (-0.23%) today. Trading 135 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 below Thursday's low at 1.4010, the Loonie confirmed its breakout through the previous session low after trading up to 89 pips below it intraday. Read more
GBPUSD 1.2457 0.0254 (2.08%) Moving higher for the 4th day in a row, GBPUSD finished the week 6.93% higher at 1.2457 after gaining 254 pips (2.08%) today. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Thursday's high at 1.2229, the currency confirmed its breakout through the previous session high after trading up to 257 pips above it intraday. Read more
EURUSD 1.1142 0.0110 (1.00%) Moving higher for the 6th day in a row, EURUSD finished the week 4.17% higher at 1.1142 after gaining 110 pips (1.0%) today. Trading up to 78 pips lower after the open, the currency managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on Monday, EURUSD gained 0.59% on the following trading day. Closing above Thursday's high at 1.1059, the FX pair confirmed its breakout through the prior session high after trading up to 89 pips above it intraday. Read more
USDCHF 0.9510 -0.0122 (-1.27%) Moving lower for the 6th day in a row, USDCHF ended the week -3.49% lower at 0.9510 after losing 122 pips (-1.27%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 0.9603, the forex pair confirmed its breakout through the previous session low after trading up to 98 pips below it intraday. Read more
USDJPY 108.01 -1.62 (-1.48%) Moving lower for the 4th day in a row, USDJPY finished the week -2.51% lower at 108.01 after losing 162 pips (-1.48%) today on low volume. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 109.21, the market confirmed its breakout through the previous session low after trading up to 146 pips below it intraday. Read more
NZDUSD 0.6032 0.0071 (1.19%) Moving higher for the 6th day in a row, NZDUSD finished the week 5.86% higher at 0.6032 after gaining 71 pips (1.19%) today. Closing above Thursday's high at 0.5989, the Kiwi confirmed its breakout through the prior session high after trading up to 81 pips above it intraday. Read more
AUDUSD 0.6163 0.0100 (1.65%) Moving higher for the 6th day in a row, AUDUSD finished the week 6.11% higher at 0.6163 after gaining 100 pips (1.65%) today. Closing above Thursday's high at 0.6088, the currency confirmed its breakout through the previous session high after trading up to 112 pips above it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for Euro/Danish Krone (EURDKK) as at Sep 24, 2020
Sep 24, 2020
Daily technical analysis candlestick chart for British Pound/Japanese Yen (GBPJPY) as at Sep 24, 2020
Sep 24, 2020
Daily technical analysis candlestick chart for Swiss Franc/Japanese Yen (CHFJPY) as at Sep 24, 2020
Sep 24, 2020
Daily technical analysis candlestick chart for Euro/Swiss Franc (EURCHF) as at Sep 24, 2020
Sep 24, 2020
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