FXWW News

EUR/USD and Cable seldom rally for 6 consecutive days

Bit of intel from a professional trader in the FXWW chat-room:

“EUR/USD has rallied for 5 consecutive days, adding a total of 1.50 cents (+1.1%). The sequence of daily gains has extended to 6 days once in the 140 sessions since 26th July 2013, the exception coming on Monday 18th November 2013, 60 trading days ago

Of the 20 times since January 2012 when – as now – EUR/USD has started a run of closing above the previous day’s high for 2 days in a row, none went on to close the next day with a net gain of more than 0.3%, the equivalent on Wednesday of 1.3695 

GBP/USD has rallied for 5 days in a row for the first time in 2014, adding a total of 1.65 cents (+1.0%). The sequence of daily rallies has extended to 6 days once in the 530 sessions since 24th January 2012, the exception coming on Friday 13th September 2013 (22 weeks ago) 

Of the 25 times since November 2006 when – as now – GBP/USD has started a run of posting daily gains for 5 days in a row, only 2 went on to close ‘day 6’ more than 0.3% above where GBP/USD started the day. The equivalent level on Wednesday is 1.6515

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