Forex Market Technical Analysis Summary for Jul 03, 2020


Major FX Pairs Technical Analysis Market Overview Report for Jul 03, 2020 | by Techniquant Editorial Team

Highlights

AUDUSD runs into sellers around 0.6951 for the third day in a row
EURUSD pushes through key technical resistance level
USDCAD breaks back below 20-day moving average
USDCHF closes lower for the 4th day in a row
NZDUSD runs into sellers again around 0.6541
USDJPY closes below its opening price unable to hold early session gains
GBPUSD closes above its opening price after recovering from early selling pressure

Summary

With four out of the seven Major FX Pairs closing higher today, the ones that stand out on the positive side are NZDUSD gaining 0.35% and AUDUSD closing 0.2% higher. On the flipside the worst performers have been USDCAD closing -0.1% lower and USDCHF losing -0.01%.

One of today's most interesting market conditions in the Major FX Pairs showed up in USDCAD: Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 20" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for USD/CAD. Out of 181 times, USDCAD closed higher 56.35% 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 52.49% with an average market move of 0.22%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been EURHUF surging 0.57% and USDHUF closing 0.44% higher. The worst performers of the day have been USDNOK tanking -0.6% and EURNOK closing -0.51% lower.

Major FX Pairs Overviews

AUDUSD 0.6941 0.0014 (0.20%) Moving higher for the 5th day in a row, AUDUSD ended the week 1.11% higher at 0.6941 after gaining 14 pips (0.2%) today on low volume. Today's close at 0.6941 marks the highest recorded closing price since June 10th. 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
EURUSD 1.1248 0.0009 (0.08%) EURUSD finished the week 0.27% higher at 1.1248 after edging higher 9 pips (0.08%) today on low volume. Trading up to 20 pips lower after the open, EUR/USD managed to reverse during the session as bulls took control ending the day above 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
USDCAD 1.3550 -0.0013 (-0.10%) Moving lower for the 2nd day in a row, USDCAD ended the week -1.02% lower at 1.3550 after losing 13 pips (-0.1%) today on low volume. Trading 18 pips higher after the open, the Loonie was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Thursday's low at 1.3561, the currency confirmed its breakout through the previous session low after trading up to 16 pips below it intraday. Read more
USDCHF 0.9452 -0.0001 (-0.01%) Moving lower for the 4th day in a row, USDCHF ended the week -0.31% lower at 0.9452 after edging lower 1 pip (-0.01%) today on low volume. Trading 16 pips higher after the open, the forex pair was unable to hold its gains as the bears took control ending the day below 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
NZDUSD 0.6534 0.0023 (0.35%) Moving higher for the 4th day in a row, NZDUSD ended the week 1.73% higher at 0.6534 after gaining 23 pips (0.35%) today on low volume. Today's close at 0.6534 marks the highest recorded closing price since June 10th. 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
USDJPY 107.50 0.00 (0.00%) USDJPY ended the week 0.26% higher at 107.50 after flat today on low volume. Trading 7 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. The last time this happened on June 16th, USDJPY lost -0.29% on the following trading day. 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
GBPUSD 1.2481 0.0013 (0.10%) GBPUSD ended the week 1.18% higher at 1.2481 after edging higher 13 pips (0.1%) today on low volume. Trading up to 27 pips lower after the open, GBP/USD 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

Detailed Reports

Daily technical analysis candlestick chart for Australian Dollar/Hong Kong Dollar (AUDHKD) as at Sep 25, 2020
Sep 25, 2020
Daily technical analysis candlestick chart for Australian Dollar/Singapore Dollar (AUDSGD) as at Sep 25, 2020
Sep 25, 2020
Daily technical analysis candlestick chart for Australian Dollar/Canadian Dollar (AUDCAD) as at Sep 25, 2020
Sep 25, 2020
Daily technical analysis candlestick chart for British Pound/Polish Zloty (GBPPLN) as at Sep 25, 2020
Sep 25, 2020
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