Tuesday February 2, 2010 - 23:24:22 GMT
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Forex Blog - Will the January EUR/USD Range Pattern Repeat?
As posted on GVI Forex earlier today:
I was sent this by a friend and while this pattern has worked 8 of the last 11 years, it has not worked the last two years.
As evidenced by the chart below, for 8 of the 11 years that it has existed, the Euro has made a defining and significant range in January. To elaborate : in those 8 years, once the euro range for the month of January broke at one end, the other end stayed intact for the rest of the year as the euro continued its journey.
As a matter of fact, even in years when the range broke the other side (just 3 years), the range break was significant on both sides.
Just pointing out a market â€śfactâ€ť which provides some excellent trading opportunities for those looking to put on positions looking for big moves.
Year January Range Year Range
1999 1.1906-1.1335 1.1906-0.9986 YES
2000 1.0414-0.9693 1.0414-0.8225 YES
2001 0.9595-0.9109 0.9595-0.8344 YES
2002 0.9066-0.8567 1.0503-0.8567 YES
2003 1.0907-1.0332 1.2646-1.0332 YES
2004 1.2898-1.2149 1.3667-1.1759 X
2005 1.3609-1.2919 1.3609-1.1638 YES
2006 1.2323-1.1798 1.3367-1.1798 YES
2007 1.3297-1.2864 1.4966-1.2864 YES
2008 1.4922-1.4364 1.6038-1.2328 X
2009 1.4055-1.2763 1.5144-1.2455 X
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