Euro Weekly Breakout Bias

By Lawrence

Euro Dollar has a unique characteristic driving its price behaviour towards the end of each week. In general no one really care much about the weekly price levels. I guess that is the reason why the bias survives all the way.

The Performance

Following is a 24 hour chart of EURUSD with the net gain in pips for the long breakout (in green) and short breakout (in blue).

image

2 pips per trade is taken out to account for the fill issues. Notice how consistent the 2 models are throughout history.


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