For Business

Trends & Market Structure

Why Yesterday's High and Low Matter

Yesterday's high and low matter because they are the two edges of yesterday that every chart in the world shows, and today is read against them: under the low, between the two, above the high. This paper shows you two September days of the euro read that way, the idea as the water marks on a harbour wall, four days on the hourly chart with the two lines drawn, one of the days hour by hour, and the table on your platform that gives the two numbers to the pip.

Difficulty
Intermediate
Reading time
5 min
Pages
8
Reviewed by
Saman Rahbar

This paper is locked

Read it in the browser and keep the PDF with Premium, or buy this one paper.

Buy this paper — $2Get Premium

Two days, read against the day before

Yesterday's high and low are the two edges of yesterday: the most anyone paid and the least. On Monday 22 September 2025 the euro against the dollar went 3 pips under Friday's low of 1.17288 in the early hours — a pip being the fourth decimal place, the smallest step most people count in — sat there for five hours, and closed 74 pips above it. On Wednesday 24 September it came within about a pip of Tuesday's high of 1.18200 at one in the morning and closed 83 pips below. Each day's story is told against the edges of the day before it.

The marks on a harbour wall

The picture is a harbour wall. Yesterday's water left two marks on it, the highest it reached and the lowest it fell to. They stay on the wall all day, and everyone on the quay can see them without measuring anything. Today's water is read against them: below the low mark, between the two, above the high mark. That is why the two prices matter. They are on every screen, because every screen shows yesterday, and so they are the two numbers everyone is looking at together.

This paper is locked

Read next