Forex Market Technical Analysis Summary for Jun 29, 2020


Major FX Pairs Technical Analysis Market Overview Report for Jun 29, 2020 | by Techniquant Editorial Team

Highlights

GBPUSD declines to lowest close since May 27th
USDCAD unable to break through key resistance level
NZDUSD closes within previous day's range after lackluster session
AUDUSD closes above its opening price after recovering from early selling pressure
EURUSD pushes through Friday's high
USDJPY fails to close above 20-day moving average
USDCHF fails to close above 20-day moving average

Summary

With four out of the seven Major FX Pairs closing higher today, the ones that stand out on the positive side are USDCHF gaining 0.33% and USDJPY closing 0.33% higher. On the flipside the worst performers have been GBPUSD closing -0.29% lower and USDCAD losing -0.2%.

One of today's most interesting market conditions in the Major FX Pairs showed up in USDCAD: Among the five market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Bearish Intraday Reversal" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for USD/CAD. Out of 432 times, USDCAD closed higher 52.55% 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 56.48% with an average market move of 0.27%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been EURJPY surging 0.55% and EURCHF closing 0.55% higher. The worst performers of the day have been GBPPLN tanking -0.78% and GBPCAD closing -0.5% lower.

Major FX Pairs Overviews

GBPUSD 1.2300 -0.0036 (-0.29%) Moving lower for the 4th day in a row, GBPUSD finished Monday at 1.2300 losing 36 pips (-0.29%) on low volume. Today's close at 1.2300 marks the lowest recorded closing price since May 27th. Trading 49 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 below Friday's low at 1.2315, the Cable confirmed its breakout through the prior session low after trading up to 63 pips below it intraday. Read more
USDCAD 1.3661 -0.0028 (-0.20%) USDCAD finished Monday at 1.3661 losing 28 pips (-0.2%) on low volume. Trading 27 pips higher after the open, the FX pair was unable to hold its gains as the bears took control ending the day below its opening price. 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 0.6421 -0.0002 (-0.03%) Moving lower for the 2nd day in a row, NZDUSD finished Monday at 0.6421 edging lower 2 pips (-0.03%) on low volume. Trading up to 16 pips lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on June 23rd, NZDUSD actually lost -1.26% on the following trading day. 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
AUDUSD 0.6867 0.0002 (0.03%) AUDUSD ended Monday at 0.6867 edging higher 2 pips (0.03%) on low volume. Trading up to 21 pips lower after the open, the pair managed to reverse during the session as bulls took control ending the day above 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
EURUSD 1.1242 0.0024 (0.21%) EURUSD finished Monday at 1.1242 gaining 24 pips (0.21%) on low volume. Closing above Friday's high at 1.1240, the currency confirmed its breakout through the prior session high after trading up to 48 pips above it intraday. Read more
USDJPY 107.57 0.35 (0.33%) Moving higher for the 4th day in a row, USDJPY finished Monday at 107.57 gaining 35 pips (0.33%) on low volume. Closing above Friday's high at 107.36, the pair confirmed its breakout through the previous session high after trading up to 52 pips above it intraday. Read more
USDCHF 0.9512 0.0031 (0.33%) USDCHF ended Monday at 0.9512 gaining 31 pips (0.33%) on low volume. Trading up to 32 pips lower after the open, the Swissy managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on June 19th, USDCHF actually lost -0.50% on the following trading day. Closing above Friday's high at 0.9500, the FX pair confirmed its breakout through the previous session high after trading up to 25 pips above it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for New Zealand Dollar/Singapore Dollar (NZDSGD) as at Jul 10, 2020
Jul 10, 2020
Daily technical analysis candlestick chart for US Dollar/Hong Kong Dollar (USDHKD) as at Jul 10, 2020
Jul 10, 2020
Daily technical analysis candlestick chart for New Zealand Dollar/Swiss Franc (NZDCHF) as at Jul 10, 2020
Jul 10, 2020
Daily technical analysis candlestick chart for US Dollar/Turkish Lira (USDTRY) as at Jul 10, 2020
Jul 10, 2020
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