Some traders worry volatility is too low, which could make future market moves more disruptive https://www.wsj.com/articles/whats-driving-the-unusual-calm-in-currency-markets-11552827600
nobody is buying or selling. no trading catalyst. forex rates are fixed and rigged essentially. banks make money on the spread and that is it.
talk about major currencies. Aud, JPY, CAD tends to have very low volatility. Past few weeks, Eur day range has shrinked drastically. gbp still doing well perhaps due to Bredit news.
Look at dollar yen, the most prolonged and tightest range in over decade. No clue when it wake up, but when it does, it will be big.
Most charts are very flat. Even on seemingly barely related pairs. I look at the weekly bar charts of the 28 major pairs each weekend. The bar for the last completed week on most charts overlaps with multiple prior weeks' bars. In some cases the overlaps have been sustained over 10, 12, 13 weeks' time. This is unusually flat. No idea what's causing this but its no help for trend-following........