Why is there absolutely NO movement in the EUR/USD pair today? Looking at the 1m chart I can't see a candle in the past hour that's gone over a volume of 50 or so. Did I miss something or is this just the ultimate dead period?
Judging by my crappy chart looks like todays range is almost 40 pips. This is pretty low but giving alot of people probably are still out from the holiday so liquidity is just not something I would expect to much out of NY session
Yeah, pretty much 40 exactly. So far High is at 1.29838, Low at 1.29434, so 40.4 total. I'm used to slow Mondays but this seems exceptional. I know we just had Thanksgiving, and today is "Cyber Monday" but still, I expected a little more than this.
I'm seriously waiting for one of the news reports after these stupid meetings to say "Well, same as every other meeting for last 2 months NOTHING HAPPENED". But still my favorite was "unnamed source says Greece bailout has been finalized" Then 5 minutes later "Lagarde and Hollande say bailout still in progress, needs technical tweaking"... I mean seriously? These meetings are just a stupid joke at this point. And we all know Greece is going to do what it has to to get its bailout, and then go back on their word. It's pretty much exactly what's been happening for the past what? Two decades?
The whole year has been crap where volotility is concerned. It's like the big players just decided to take the entire year off. Go back and look at some daily charts in 2010 and 2011. There are very few days where the price from open to close was less than 70 or 80 pips.
Any day where price stays within 40 pips from London open to NY close is just a disgrace in my eyes. There should be a law.
Tomorrow Europe will decide to provide Greece the new required funds to pay off debts. A bit like the fiscal cliff in the US. I think they are waiting for this. Three options to consider: Yes, it is given in full; Yes, it is given in trenches; No, you don't get it. In my opinion option 1 and 2 are most likely.