Forex Market Technical Analysis Summary for Jul 13, 2020


Major FX Pairs Technical Analysis Market Overview Report for Jul 13, 2020 | by Techniquant Editorial Team

Highlights

EURUSD climbs to highest close since June 10th
USDJPY breaks back above 20-day moving average
GBPUSD runs into sellers around 1.2666 for the third day in a row
NZDUSD runs into sellers again around 0.6594
AUDUSD closes lower for the 3rd day in a row
USDCAD closes higher for the 3rd day in a row
USDCHF closes within previous day's range

Summary

With four out of the seven Major FX Pairs closing higher today, the ones that stand out on the positive side are EURUSD gaining 0.38% and USDJPY closing 0.35% higher. On the flipside the worst performers have been GBPUSD closing -0.54% lower and NZDUSD losing -0.52%.

One of today's most interesting market conditions in the Major FX Pairs showed up in EURUSD: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close above the upper Bollinger Band" stand out. While it is usually interpreted as bullish, it has actually shown to be bearish for EUR/USD. Out of 141 times, EURUSD closed lower 56.03% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after 10 trading days, showing a win rate of 56.03% with an average market move of -0.32%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been USDMXN surging 1.42% and EURGBP closing 0.93% higher. The worst performers of the day have been GBPSGD tanking -0.58% and GBPHKD closing -0.56% lower.

Major FX Pairs Overviews

EURUSD 1.1343 0.0043 (0.38%) Moving higher for the 2nd day in a row, EURUSD ended Monday at 1.1343 gaining 43 pips (0.38%). Today's close at 1.1343 marks the highest recorded closing price since June 10th. Closing above Friday's high at 1.1325, the forex pair confirmed its breakout through the previous session high after trading up to 52 pips above it intraday. Read more
USDJPY 107.29 0.37 (0.35%) USDJPY finished Monday at 107.29 surging 37 pips (0.35%). This is the biggest single-day gain in over two weeks. Closing above Friday's high at 107.27, the forex pair confirmed its breakout through the prior session high after trading up to 5 pips above it intraday. Read more
GBPUSD 1.2554 -0.0068 (-0.54%) GBPUSD finished Monday at 1.2554 losing 68 pips (-0.54%). Trading 48 pips higher after the open, the currency was unable to hold its gains as the bears took control ending the day below its opening price. Closing below Friday's low at 1.2567, the FX pair confirmed its breakout through the prior session low after trading up to 17 pips below it intraday. Read more
NZDUSD 0.6540 -0.0034 (-0.52%) NZDUSD ended Monday at 0.6540 losing 34 pips (-0.52%). Trading 22 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 below Friday's low at 0.6546, the forex pair confirmed its breakout through the previous session low after trading up to 8 pips below it intraday. Read more
AUDUSD 0.6940 -0.0010 (-0.14%) Moving lower for the 3rd day in a row, AUDUSD finished Monday at 0.6940 losing 10 pips (-0.14%). Trading 34 pips higher after the open, the Aussie was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on July 9th, AUDUSD lost -0.20% on the following trading day. 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
USDCAD 1.3608 0.0015 (0.11%) Moving higher for the 3rd day in a row, USDCAD ended Monday at 1.3608 gaining 15 pips (0.11%). Trading up to 51 pips lower after the open, the forex pair managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on July 1st, USDCAD actually lost -0.18% on the following trading day. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
USDCHF 0.9417 0.0005 (0.05%) Moving higher for the 3rd day in a row, USDCHF finished Monday at 0.9417 edging higher 5 pips (0.05%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. 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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