All of the major forex markets have been in tight trading ranges for a few days, giving limited opportunities for traders who are learning how to trade the markets. Those trading forex markets for a living are taking forex scalps and entering with limit orders. They are buying strong bear closes near the bottom of the range and buying new lows, and adding on 10 pips lower, then scalping for 10 pips. If they scale in, many get out breakeven on their 1st entry and with a 10 pips profit on their 2nd entry.
When the price action is this tight, most traders should simply wait for a strong breakout with follow-through. The forex markets might be waiting for tomorrow’s unemployment report. However, when there is a potential market moving event, the market often breaks out before the event, so day traders should be prepared for the breakout today or tonight, and not be in denial if it begins unexpectedly. The biggest and most profitable breakouts often come when there appears to be no reason for them to occur, and day traders who remain open to any event are in a position to enter early and to manage their trades correctly (swing trade their forex positions).
Just as I completed this sentence, the EUR/USD is having a strong enough bear breakout for day traders to look for follow-through selling after a pullback.