Volatility at historical lows
Average weekly range (pips)
EURUSD = 142 (56 pips daily)
USDCHF = 141 (52 pips daily)
USDJPY = 133 (52 pips daily)
Cable fares a little better with 210 (69)
By far the best is GBPJPY 351 (145), however this pair has a wide spread.
The nature of the averaging is there has to be a big day every now and then. On Friday the Euro did manage a daily range of 111 but the single currency may well shed these gains this week. Cable only managed 71 pips ahead of the weekend.
GBPJPY continues to advance strongly. However according to my Forex Bias analysis (GBPJPY = 0), a retracement is necessary to get in on a long trade.
Otherwise just watching.
Data: ISM manufacturing index tomorrow and NFP on Friday.
Regards
Morty Sill
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