| Statistical Effect of Closing Position in Daily Range on Direction of Following Day’s Close, USD Majors, Jan 1986-Apr 2001* | |||
|---|---|---|---|
| Position of Close Above/Below % of Daily Range | Statistical Probability of Next Day’s Close Continuing Strength or Weakness | ||
| exactly at high or low | 40% | ||
| within 10 pips of high or low | 44% | ||
| > 95% of range | 44% | ||
| within 90-95% of range | 47% | ||
| > 90% | 45% | ||
| within 85-90% | 42% | ||
| > 85% | 44% | ||
| within 80-85% | 43% | ||
| > 80% | 43% | ||
| within 75-80% | 44% | ||
| > 75% | 43% | ||
| within 70-75% | 51% | ||
| > 70% | 45% | ||
| within 65-70% | 62% | ||
| > 65% | 50% | ||
| within 60-65% | 67% | ||
| > 60% | 56% | ||
| within 55-60% | 58% | ||
| > 55% | 57% | ||
| within 50-55% | 53% | ||
| > 50% | 56% | ||
*Analysis provided by Marshall Kerr