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
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.