1.0
New York Open
1.1 EUR/USD Overview
Todays bias and the daily bias are both lower. Strong resistance lies at 1.4630. Sell early morning strength any time above 1.4600 with a stop at 1.4635. The next leg lower should break the overnight low and continue its slide to the 1.4537 to 1.4514 zone. Can buy a break above 1.4635 for a quick scalp as some follow through is expected.
1.2 GBP/USD Overview
Todays bias is down. Resistance lies at 1.5903 and then 1.5938. Can sell anytime in that range with a stop at 1.5943. The next leg lower should extend to 1.5756.
1.3 USD/CHF Overview
Todays bias is to higher prices. Strong support is pegged in the 1.0323 to 1.0315 range. Buy early morning weakness anytime below 1.0330 with stops at 1.0308. Look for a test of R2 at 1.0387, but above there follow through to 1.0425 is expected.
1.4 EUR/JPY Overview
Todays bias is lower. The resistance zone to stay below is 131.26 to 131.65. Sell in that range with a stop above 131.80. However, rallies shouldnt get that high if the bears are in control. A hard break to S2 at 129.85 is expected later this morning.
1.5 GBP/JPY Overview
Todays bias is lower. Resistance lies at 143.43. Sell anytime above 143.10 with stops above 142.48. The next leg lower will break the overnight low which is also S1 at 141.93 and follow through to 140.50.
1.6
USD/JPY Overview
Todays bias is neutral. Resistance lies at 90.05 while support lies at 89.44. Nothing to do here.
2.0 New York Close Market Data
2.1
Hourly average Range in pips (EST
format)
|
Pair |
1-2am |
2-3am |
3-4am |
4-5am |
5-6am |
6-7am |
7-8am |
8-9am |
9-10am |
10-11am |
11-12pm |
12-1pm |
1-2pm |
|
EUR/USD |
19 |
35 |
35 |
27 |
22 |
22 |
23 |
34 |
40 |
43 |
36 |
33 |
27 |
|
GBP/USD |
36 |
51 |
57 |
58 |
39 |
33 |
30 |
43 |
49 |
61 |
48 |
42 |
29 |
|
USD/JPY |
19 |
29 |
28 |
20 |
20 |
24 |
20 |
26 |
23 |
35 |
26 |
16 |
18 |
|
EUR/JPY |
31 |
40 |
42 |
29 |
26 |
30 |
26 |
35 |
34 |
39 |
34 |
24 |
22 |
|
GBP/JPY |
44 |
52 |
62 |
51 |
40 |
49 |
36 |
50 |
42 |
66 |
45 |
33 |
28 |
Figure 1
2.2
Figure 1 explained
The table above shows the average range in pips for the hour based
on Eastern Standard Time. The average used is of the past 10 days.
The cells in red are the hours with the highest range for those
shown. This shows which hours offer the most profit potential. It
also aids in the trade decision process by knowing what the current
hour’s range is in relation to its’ average range. If a buy is
signalled but the average hourly range is met, then caution should
be used with the trade.
2.3
Key levels for today's trading day
(London/New York times)
|
Pair |
Current Level |
London Open |
Daily Pivot |
R1 |
R2 |
S1 |
S2 |
Average Range |
|
EUR/USD |
1.4573 |
1.4630 |
1.4630 |
1.4677 |
1.4724 |
1.4583 |
1.4537 |
129/119 |
|
GBP/USD |
1.5907 |
1.5938 |
1.5903 |
1.5994 |
1.6050 |
1.5847 |
1.5756 |
198/182 |
|
USD/JPY |
89.80 |
89.99 |
89.77 |
90.43 |
90.87 |
89.34 |
88.70 |
130/110 |
|
EUR/JPY |
130.96 |
131.65 |
131.27 |
132.16 |
132.68 |
130.75 |
129.85 |
150/135 |
|
GBP/JPY |
143.00 |
143.43 |
142.74 |
144.23 |
145.03 |
141.93 |
140.44 |
259/206 |
Figure 2
2.4
Figure 2 explained
Current
Level
This is where the
market is at the time of writing.
London Open
This is the price at 2am New York time.
Daily Pivot
This is calculated by the previous days (H + L + C)/3 based on a 24
hour day from 2am to 2am New York Time.
R1, R2, S1 and S2
The daily
pivot points based on using the previous explanations calculation.
Average Range
The first number is the 10-day average daily range and
the second number is a 10-day average of the average—this shows
whether or not the daily range is expanding or contracting. If the
background color is red, it means the average daily range is
contracting, if its green, it means it is expanding. The average
daily range can aid in the decision to take a trade or not. If a buy
signal is given at or near the high of the day but the average daily
range has been met or exceeded, then caution should be used in
entering the buy.
Color Codes
If the background color is
green , then
the current price is above referenced number and if the background color is
red
, then the current price is below the referenced number.
Use the London Open and Daily pivot to determine the daily bias—if
background is green in both, then the daily bias is to higher
prices. If one is red and the other green, then the daily bias is
neutral. If both are green, and the R1 cell is red, then use R1 as
first daily target. If R1 is green as well and R2 is red, then use
R2 as the daily target. Reverse the guidelines for the short side.
|