If you are trading any kind of intraday forex system, then it's always a good idea to be fully aware of the average daily range of the pair(s) you are trading. This is because you always want to know how much further a pair could realistically move given it's daily average in order to determine where you should set your stop loss and target price.
For instance if a pair has an average daily range of 100 points and during a given day it has been trading in a range of 100 points or more (and is trading at the top of this range with just an hour or so left), then you obviously would not want to be opening a long position because the odds are very much against you.
However if, for example, the range is currently 60 points and there is several hours left of the trading session, then a long position at the top of the range (or vice versa) may well be worth considering given the right circumstances because there is still room for a decent price move to take place.
Anyway I have listed below the average daily trading ranges for all of the major currency pairs for 2008 (I haven't been able to find any figures for 2009 yet). I hope you find the information useful.
GBP/JPY – 348
GBP/CHF – 270
EUR/JPY – 239
GBP/USD – 222
AUD/JPY – 213
CAD/JPY – 201
EUR/USD – 177
NZD/JPY – 175
AUD/USD – 155
USD/JPY – 149
USD/CAD – 148
USD/CHF – 145
EUR/CHF – 128
NZD/USD – 126
EUR/GBP – 80
