Another day of low ranges
I guess we’re in full on election mode now as we’ve seen another day of very little volatility. GBP and JPY have been the most active, GBP on Brexit and JPY on the elections.
- USDJPY has completed a hi-lo round trip consisting of a whopping 35 pips each way between 113.10 & 113.45. Well, I tell a lie because it’s struggling to hit the 45 high again. That’s the benchmark for the intraday
- GBPUSD has remained well bid but even so, the range is only 76 pips. 1.3100 will likely offer good resistance until the next headline drops main support is still down at 1.2950/75 but 1.3020/25 has some too
- EURUSD has wandered around in a 46 pip range 1.1392-1.1438 and looks like showing no interest in doing anything else
- USDCAD is asleep at 1.3126 with a mahooosive 32 pip range
- AUDUSD isn’t fairing much better
- JPY crosses Guppy and Ernie (EURJPY) have at least stretched their legs a bit
- US stocks are ticking over and in the green but again, no one is busting a gut
Overall, not much for traders to get their teeth into. I’ve no interest in rrtying to scrape pips in the middle here. I’ve got my levels I’m happy to trade and if they don’t appear, I’ll do nothing.
We’ll just have to wait until som,ething breaks.