EUR/USD: Will Fed's minutes change the bets?

The single European currency remains locked in an extremely tight range around the 1,09 level .

In the wake of yesterday's day which was characterized by extraordinary calm due to Independence Day in the United States where the key stock markets were closed.

The market behavior was quite expected , the range of variation was extremely limited either side of the 1.09 level and options for scalping trading turned out to be the best idea as also mentioned in yesterday's article.

A general confusion remains on the table as it is currently difficult to detect any specific direction for the pair.

This calm environment is expected to come to an end soon ,  starting today with the crucial announcement of the latest Fed minutes and then culminating on Friday with the announcement of the new jobs in the United States is expected to increase volatility greatly.

While the landscape for the European Central Bank's intentions is clearer at the moment, there remain quite a few clouds over the Fed's similar intentions , as the bets on whether or not it will continue  in interest rate increases are divided .

So the announcement of the latest Minutes , but mainly Friday's data on the critical sector of the labor market in the United States is awaited with particular interest and the possibility that the bets will change is increased.

At the moment I have no new data to change my basic strategy which, apart from exploiting the limited trading range on some days when the markets are characterized by extreme calm due to the absence of any data, the positioning in favor of the European currency on sharp dips remains in my thought.