It reinforces the effect of economic reports and compares the average performance following all 80thpercentilewide-range bars to news related bars. The figure also shows EUR/USD’s benchmark price moves.
The figure highlights patterns detailed: No solid trends developed in the first five daysfollowing WRBs, regardless of whether they featured economic news or not. (Day 1’s drop after news-related WRBs is an exception to this rule.)
All wide-range bars (including those corresponding with economic news) began to outperform their benchmark price moves by the sixth day, and the news category beat overall WRBs starting on the seventh day. This trend intensified toward the end of the second week.
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