The pair has spent several sessions in a narrowing range as traders wait for the next inflation print. Here is how the structure is shaping up.
Where the pair sits
Recent sessions have produced progressively smaller daily ranges, a pattern often associated with participants waiting for a scheduled catalyst rather than with any change in underlying direction.
Range compression tells you about participation, not about which way the eventual break will resolve. Treating it as directional information is a common analytical error.
What to watch
Inflation releases typically widen spreads and increase slippage risk for a short window. Traders often review position sizing ahead of these events rather than adding exposure into them.
