Market Mood

Speculators´ expectations about the future create a general mood in the overall market. There appear to be three moods: 

Decision
In this context, the traders have come to some kind of conclusion about the general direction that a specific pair should be going and so the prices is moving in that direction:

Decision 

Moments of decision can take place if news comes out, or if traders have a general optimistic/pessimistic view of the future. It can also happen simply because there are a lot of people trading and there is an instinctive herd movement in a specific direction!

Indecision
Here, people really don´t know what to decide and there is a lack of willingness create momentum in any particular direction. This is also referred to as consolidation:
 Indecision  

Indecision takes place when the market is truly perplexed as to where it should go. Perhaps the fundamental data does not lead to strong views. This also takes place when there are low trading volumes, for example overnight. 

Volatility

Volatility is created when two groups are trading in opposite directions. This results in large movements in the price in a relatively short period of time:

Volatility  

This tends to take place when there are high trading volumes. News/fundamental data can create volatility, especially if there is conflicting information, or if the implications of the information points in two opposing directions.