Unfortunately, no secret day of the week has been found for the Euro!☹️
Hello, on a day off you can take your mind off trading and do important things like analyzing and looking for patterns.
Today I would like to present the result of a statistical test for statistically significant relationship between the day of the week and the price movement from the opening to the closing price of the day.
Instrument: Euro (Forex)
Data set: from 01.03.2022 to 21.02.2025
Test: ANOVA (Analysis of Variance)
Here are the steps taken:
1.Calculate the price change (close - open) for each row in the data frame.
2.Group the data by day of the week and calculate the average price change for each day.
3.Perform an ANOVA test to determine if the differences in the average price change are statistically significant.
Test results and interpretation:
👉The result of the ANOVA test is a F-value of 1.23 and a p-value of 0.30.suggests that there is no statistically significant relationship😞 between the day of the week and the price change from open to close.
Hello, on a day off you can take your mind off trading and do important things like analyzing and looking for patterns.
Today I would like to present the result of a statistical test for statistically significant relationship between the day of the week and the price movement from the opening to the closing price of the day.
Instrument: Euro (Forex)
Data set: from 01.03.2022 to 21.02.2025
Test: ANOVA (Analysis of Variance)
Here are the steps taken:
1.Calculate the price change (close - open) for each row in the data frame.
2.Group the data by day of the week and calculate the average price change for each day.
3.Perform an ANOVA test to determine if the differences in the average price change are statistically significant.
Test results and interpretation:
👉The result of the ANOVA test is a F-value of 1.23 and a p-value of 0.30.suggests that there is no statistically significant relationship😞 between the day of the week and the price change from open to close.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.