Among the tendencies this analysis revealed was the pound/dollar’s relatively low percentage (given the fact the pair made a healthy overall gain during the study period) of higher closes — 52 percent. On an intraday basis, the most price volatility occurred from 7-10 a.m. CT, followed by 1-4 a.m. CT — periods that, not surprisingly, represent when the European and U.S. trading sessions overlap and the early portion of the pound/dollar’s “native” trading session. “Currency characteristics: GBP/USD” summarizes the highlights of this currency study.
Statistical analysis is the starting point for developing trading procedures based on quantifiable market behavior. This type of analysis can be a guide to the range of market behavior that can occur going forward, which is what traders need to focus on. Because of this, such analysis should be performed on a regular basis.
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