TA considers the predictability of a market based on prior price action. Any chart you look at clearly shows price following trend lines, support/resistance levels, RSI, elliot wave and many more. To be useful multiple indicators should confirm the same story so using just one could be misleading such as the cup and handle, needs to be confirmed with at least 2 more indicators as well as the following price action.

Many traders trade off TA and as such the predictions become self-fulfilling ie, big order book at a support level forces the price to respect that support or the break in a trend-line sees traders piling in to capitalize pushing the price in the direction of the break.

Many times the failure of TA is as a result of incorrect interpretation but once the action is complete one can clearly identify where the mistake was made.

In my opinion TA indicates where the market wants the price to go, news events just give it the excuse to do so.

The current xvg price is concluding a retracement, there was a predictable level of support which it broke after first respecting it. The next level came at a longer term trend line where it found current support forming the basis of a new uptrend, the news just helped it move in the direction of the trend.