Since 2009 the average number of pips that Euro/Dollar has traded between the high and the low on a daily basis has fallen fairly consistently:
So, for the current year to date, the average pip range on Euro/Dollar is now just 75 pips.
The data for February and March in each of those years shows a similarly consistent decline:
|Average pip range low to high|
|2014||73||57 (after 3 days)|
The table shows that February and March have very similar for pip ranges in the past 5 years, with March, if anything a little bit lower than February. The daily pip range for February 2014 was 73. After just 3 days of March this average daily pip range is even lower at 57!
This suggests that the way things have started in 2014, Euro/Dollar continues to become less volatile from the perspective of its average daily trading range.
Day traders on Euro/Dollar take note.