Forex Market Technical Analysis Summary for Sep 15, 2020


Major FX Pairs Technical Analysis Market Overview Report for Sep 15, 2020 | by Techniquant Editorial Team

Highlights

AUDUSD closes above its opening price after recovering from early selling pressure
USDCAD runs into sellers around 1.3202 for the forth day in a row
USDCHF finds buyers at key support level
GBPUSD closes higher for the 2nd day in a row
EURUSD closes below its opening price unable to hold early session gains
USDJPY unable to break through key resistance level
NZDUSD pushes through key technical resistance level

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 0.33% and NZDUSD closing 0.19% higher. On the flipside the worst performers have been USDJPY closing -0.26% lower and EURUSD losing -0.13%.

One of today's most interesting market conditions in the Major FX Pairs showed up in USDJPY: Among the six market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close below the lower Bollinger Band" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for USD/JPY. Out of 138 times, USDJPY closed higher 52.90% 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 65.22% with an average market move of 0.65%. Read more

Looking at the Minor FX Pairs and Crosses, the winners of the day have been ZARJPY surging 0.94% and USDCZK closing 0.56% higher. The worst performers of the day have been EURZAR tanking -1.4% and USDZAR closing -1.26% lower.

Major FX Pairs Overviews

AUDUSD 0.7302 0.0013 (0.18%) Moving higher for the 3rd day in a row, AUDUSD finished Tuesday at 0.7302 gaining 13 pips (0.18%). Trading up to 26 pips lower after the open, the FX pair 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 failed to decisively move beyond the prior day's trading range. Read more
USDCAD 1.3186 0.0011 (0.08%) USDCAD ended Tuesday at 1.3186 gaining 11 pips (0.08%). Trading up to 41 pips lower after the open, USD/CAD 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
USDCHF 0.9081 -0.0003 (-0.03%) Moving lower for the 5th day in a row, USDCHF ended Tuesday at 0.9081 losing 3 pips (-0.03%) on low volume. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Read more
GBPUSD 1.2889 0.0043 (0.33%) Moving higher for the 2nd day in a row, GBPUSD finished Tuesday at 1.2889 gaining 43 pips (0.33%). 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
EURUSD 1.1847 -0.0016 (-0.13%) EURUSD ended Tuesday at 1.1847 losing 16 pips (-0.13%) on low volume. Trading 38 pips higher after the open, the Euro was unable to hold its gains as the bears took control ending the day below its opening price. The last time this happened on September 1st, EURUSD lost -0.48% 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
USDJPY 105.45 -0.28 (-0.26%) Moving lower for the 2nd day in a row, USDJPY finished Tuesday at 105.45 losing 28 pips (-0.26%). Closing below Monday's low at 105.55, the pair confirmed its breakout through the prior session low after trading up to 25 pips below it intraday. Read more
NZDUSD 0.6714 0.0013 (0.19%) Moving higher for the 3rd day in a row, NZDUSD ended Tuesday at 0.6714 gaining 13 pips (0.19%) on low volume. 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

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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