Scanning the major forex charts, you can see that the trading range in most forex pairs is pretty tight today. The widest range from top to bottom so far we can see is in EUR/USD, which has lost about 40 pips.
Yep, that´s it. 40 pips are considered as a wild move today. Even if you were trying to pick a top, you couldn´t make than 20-25 pips at best. That´s the reason we haven´t issued more forex signals today.
The Pound has been a bit of a rascal lately with most GBP pairs making 100-150 pips moves on a daily basis. Only yesterday GBP/USD completed a 200 pip round trip, while all we´re having today is a 30-40 pip range.
The economic data is not helping matters much either. The most important release on the economic calendar today is the US crude oil inventories. However, only the CAD pairs might benefit from this piece of data and finally see some action.
Speaking of the economic calendar, the numbers from Japan this morning were less than impressive. Bank lending, the Japanese current account, and the economic sentiment all missed the expectations. So, back in the mud again Japan, isn´t it?
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