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Range-Bound Forex, Going Into Range-Bound Wall Street
Does the term ranged-bound sound familiar? Forex traders see it with increased regularity lately, in almost every Asian and European session, and now goes into a range-bound Wall Street environment. Since the new forex session started, Eur/Usd held a range of 50 pips, Gbp/Usd 90 pips, Aud/Usd 50 pips, Usd/Cad 30 pips, Usd/Chf 35 pips and the Usd/Jpy 65 pips. Aud/Usd and Usd/Cad are running the same way, which for two commodity based pairs is very unusual, especially when oil trade looks as though it is about to reverse heavily.