Forex Market Technical Analysis Summary for Jun 30, 2020


Major FX Pairs Technical Analysis Market Overview Report for Jun 30, 2020 | by Techniquant Editorial Team

Highlights

AUDUSD enters Golden Cross for the first time since April 6, 2018
USDJPY pops to highest close since June 8th
USDCAD runs into sellers around 1.3700 for the third day in a row
GBPUSD dominated by bulls lifting the market higher throughout the day
EURUSD breaks below key technical support level
USDCHF finds buyers at key support level
NZDUSD pushes through Monday's high

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 0.82% and NZDUSD closing 0.53% higher. On the flipside the worst performers have been USDCAD closing -0.62% lower and USDCHF losing -0.41%.

One of today's most interesting market conditions in the Major FX Pairs showed up in NZDUSD: Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Bounce off SMA 20" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for NZD/USD. Out of 138 times, NZDUSD closed higher 50.72% 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 six trading days, showing a win rate of 55.80% with an average market move of 0.07%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been GBPZAR surging 1.31% and GBPJPY closing 1.16% higher. The worst performers of the day have been USDNOK tanking -1.51% and EURGBP closing -0.9% lower.

Major FX Pairs Overviews

AUDUSD 0.6903 0.0036 (0.52%) Moving higher for the 2nd day in a row, AUDUSD finished the month 3.51% higher at 0.6903 after gaining 36 pips (0.52%) today on low volume. Trading up to 33 pips lower after the open, the Aussie managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Monday's high at 0.6891, the market confirmed its breakout through the previous session high after trading up to 21 pips above it intraday. Read more
USDJPY 107.93 0.36 (0.33%) Moving higher for the 5th day in a row, USDJPY finished the month 0.1% higher at 107.93 after gaining 36 pips (0.33%) today. Today's close at 107.93 marks the highest recorded closing price since June 8th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Monday's high at 107.88, the Yen confirmed its breakout through the prior session high after trading up to 11 pips above it intraday. Read more
USDCAD 1.3576 -0.0085 (-0.62%) Moving lower for the 2nd day in a row, USDCAD ended the month -1.42% lower at 1.3576 after losing 85 pips (-0.62%) today on low volume. Closing below Monday's low at 1.3648, the forex pair confirmed its breakout through the prior session low after trading up to 78 pips below it intraday. Read more
GBPUSD 1.2401 0.0101 (0.82%) GBPUSD ended the month 0.41% higher at 1.2401 after gaining 101 pips (0.82%) today on low volume. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Monday's high at 1.2390, the market confirmed its breakout through the previous session high after trading up to 13 pips above it intraday. Read more
EURUSD 1.1233 -0.0009 (-0.08%) EURUSD finished the month 1.15% higher at 1.1233 after edging lower 9 pips (-0.08%) today. 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
USDCHF 0.9473 -0.0039 (-0.41%) USDCHF ended the month -1.47% lower at 0.9473 after losing 39 pips (-0.41%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more
NZDUSD 0.6455 0.0034 (0.53%) NZDUSD finished the month 4.03% higher at 0.6455 after gaining 34 pips (0.53%) today on low volume. Trading up to 32 pips lower after the open, the Kiwi managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Monday's high at 0.6443, the currency confirmed its breakout through the prior session high after trading up to 19 pips above it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for US Dollar/South African Rand (USDZAR) as at Aug 07, 2020
Aug 07, 2020
Daily technical analysis candlestick chart for Australian Dollar/New Zealand Dollar (AUDNZD) as at Aug 07, 2020
Aug 07, 2020
Daily technical analysis candlestick chart for New Zealand Dollar/Japanese Yen (NZDJPY) as at Aug 07, 2020
Aug 07, 2020
Daily technical analysis candlestick chart for Australian Dollar/Swiss Franc (AUDCHF) as at Aug 07, 2020
Aug 07, 2020
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