So far this is a relative quiet week in the FX world and it seems that current environment will persist for some time. But we have to keep in mind that usually after small ranges the markets will post some bigger ranges and expend so this is also a signal of what may be ahead of us. Once we'll have those breakouts I honestly think that it will not be wise to fade them but rather to go with the flow.

We just need some catalyst to trigger the move and we already know that the CB monetary policy have been the main driver of FX volatility over the past few years and I guess that we should keep an eye on this in order to time the market better.

Best Regards,
Daytrader21
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