The European currency picture repeats. For three months we have been observing a sideways movement which has no technical signs of the trend forming. The indicator Alligator confirms a sideways motion on a day chart. As for a four-hour timeframe, of course there we see fluctuations with high amplitude.
The prices are inside a horizontal range between 23.6 and 38.2 of a Fibo long-term correction. The prices did the attempts to break two ranges, however, the channel testing was ending with a rebound every time.
Though we can see a very interesting situation by the mathematical and statistical indicators. The estimation of a standard deviation on a day chart is now close to zero. That is the price is deviating from its natural linear regression and is moving adequately. And the main trend is now flat. But the ATR is at extreme. This demonstrates that the current movement is to change soon.
By far there have been no vivid signals for opening even an intraday position. Though there plenty of possibilities for scalping.