EUR/USD

Currencies are also flat, in many cases it's a "Chicken or the egg" situation. "Are currencies flat because of a market event or is the market flat because of a currency event.

I would say it's probably safe to assume this is caution ahead of any potential Fiscal Cliff statements, however the one thing I've learned over and over again is, "When the market is dull, it's dangerous". You always hear me talk about this with the analogy, "It's like the kids are too quiet in the room next door".

While the media is spoon feeding us reasons why the market made every move (or no move) , we've often found that during periods like this the market is up to something, it's just we can often see it and right now, other than the few indications I already mentioned, there isn't much.

However I do find this EUR/USD chart interesting. Remember when this pair moves up it gives the market a boost, when the pair move down it weighs on the market.

It's not just the market that's flat intraday...

 The market open this morning and the EUR/USD ever since.

However when looking at the 3C chart of the pair, you see the negative divergence sending it lower, the positive sending it higher off the lows and right now a leading positive divergence. Interesting.