Based on Daily Open/Close data from 2001 – November 2010. X – axis counts the number of days a bullish (1-10) or bearish (-1 - -10) trend lasts. Y-axis displays the percentage of observations. N = +2,500 days per pair.
- Bearish or bullish trends (=more than one day) only occur with a probability < 50%
- More bearish one day moves occur than bullish one day moves (=daily close higher than daily open)
- More bullish two day trends occur than bearish two day trends
- Probability of a trend continuation progressively decreases after a two day trend.
- More than 5 day trend continuations hardly every occur
- No trend continuation for more than 10 days could be observed for any of the pairs
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