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What is Chart Patterns in Euro/Dollar Forex Analysis about?

This paper investigates the presence and profitability of chart patterns in the Euro/Dollar foreign exchange market using two detection methods based on price data. The study finds that while over half of the identified patterns show significant predictability, only two patterns demonstrate profitability, which is insufficient to cover transaction costs. The second detection method, which considers high and low prices, yields higher but riskier profits compared to the first method based on close prices.

Author

Aitor Longarte

Language

EN