Looking at yesterdays Market Profile for EURUSD during the Wall Street session, things seemed in favour of buyers. Long buying tail early in the session and a close at the top part of the range, as well as the stacked up prints were all showing keen buyers.
However we are still in a range, also visible on the profile through the fact that the electronic open was in the middle of the whole range, making yesterdays day a neutral composite day.
I will be looking for an open at Wall St above 1.1347 for a possible push up, but beware, lots of restriction areas in the way. Possible target, if we do get any kind of a conviction to the upside is monthly pivot at 1.15, followed by daily supply edge at 1.1540.
If we get a Wall St open inside Value, between 1.1319 and 1.1347, the day is likely to be very quiet, range bound and I won't be looking for a new trade today .
