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The EUR/USD continues to react to the news-flow on an intraday basis but maintains familiar ranges, so familiar that it hurts. My sources tell me that central banks have the market surrounded, trading the edges of the ranges while we wait for further economic news that's less conflicting than what we've seen so far.During today's London session a sharp slump in German exports was a worrying sign and temporarily stomped out the bull's attempt at a rally early into the session, while news that Greek and Spain seem to be consolidating budgets as touted is supportive.According to former European Commission President Romano Prodi, the worst of Greece’s financial crisis is over and other European nations won’t follow in its path. He continued with this proverbial foot-in-mouth exercise to say: “For Greece, the problem is completely over... I don’t see any other case now in Europe. I don’t think there is any reason to think the euro system will collapse or will suffer greatly because of Greece.” Well that settles it then, let's move on!Some other lesser news worth mentioning from today's London session:Greek report to EU says implementation of deficit plan ahead of scheduleSpain’s Economy Minister: 2009 deficit could be lower than previous forecast of 11.4% of GDPItaly January industry output +2.6% m/m, much stronger than median forecast +0.6%Later on, US wholesale inventories fell by 0.2% in January, economists had expected a 0.2% rise. Wholesale sales rose 1.3%, better than the expected 0.7% rise. Nothing here accounted for any price movements but it is sometimes crucial during thin economic news times to watch for such lesser news in case there is a major discrepancy. So for now, technicals continue to dominate the price action we are seeing and I will be posting how my system has been performing through these ranging markets later in the day for those who might be interested. For tomorrow, look for the U.S. Trade Ballance and Unemployment Claims due out at 8:30 am. Again, stick to your technicals above all else while we await Friday's Core Retail sales report. Good luck to you all!