EURCAD's current bounce and the 'set it and forget it' crowd

Been watching $EURCAD hover around this 1.6080 area after that dip, and I can't help but wonder about the folks who just plop down a long and walk away. We saw it touch 1.61069 earlier, but the follow-through just wasn't there. Then it drifted back, hitting a low of 1.6081. This isn't exactly the kind of strong directional move that screams 'set it and forget it' to me. The broader $USDX isn't doing much either, sitting at 25.5309, which isn't exactly giving us strong signals for cross-currency plays.

Frankly, I think relying on simple entries and hoping for the best in this sort of environment is a recipe for getting chopped up. The intraday range has been tight, and unless you're scalping or have a very specific thesis for a breakout beyond 1.6100, just holding through this sideways action seems like a low-probability bet. Am I missing something? Does anyone genuinely believe in 'set it and forget it' strategies for these kinds of ranges, especially on a cross like EURCAD?