EUR/USD is at 1.0872 and the range is tight ahead of the speakers. There is no breakout. What is moving is the calendar, not a new flow.
A tight range before a speaker is not a quiet market. It is a market postponing the move until the line lands. Stops inside the range get taken by the noise.
The rate on the page is a delayed sample print. The live book is not connected yet.
What the desk is watching
- EUR/USD 1.0872
- Range tight, no breakout
- Calendar, not flow