Sept 26 am, FX/BTC update

Euro-1.1740. FOMC is today so there will probably be jockeying around before 11am and then go quiet until the news. Yesterday was an inside day with a high of 1.17935 and a low of 1.1731. Usually, when a high or low is broken on an inside bar, you can expect follow through. Below 31, support comes in at 1.1703. Not only is 31 yesterdays low, but it's also pivot support R1 and and TD support line. Resistance on the day comes in at 1.1760 and then much stronger between 1.1780 and 1.1793. Pivot R1 comes in at 91 as well. My bias is to buy dips this morning looking for a rotation higher into the close. A daily close below 1.1700 would be neutral to bearish. The daily ranges are very tight so far with the Euro only at 51% of it's 10-day average daily range. The other major pairs are similar except EurAud, my new favorite pair to watch, which is at 108%.  

BTC-6510. Not much to say. Every day I have to fine new ways to say 1) its in a range and 2) a print of 5850 or 6850 is needed to break out of that range and 3) use weakness to buy into ahead of 6000/5900 and finally 4) I believe a new uptrend will start soon. That sums up my last month or two of commentaries. The right hand chart is BTC on top, ETH in middle and a relationship based indicator I originally used for equities many years ago. When the line is red, buy BTC and sell ETH. When it's green, do the opposite and when yellow, it's neutral. I haven't officially backtested the signal but just the quick eyeball scan, it seems to do well going back a few years. If you had followed the signal, you would be long BTC and short ETH since June 23 as indicated by the white, dashed vertical line. I'm not offering this as investment advice as all its doing is graphically showing what everyone knows just by watching the markets--BTC has been relatively stronger than it's cousins. When the uptrend emerges, maybe the trade will be short BTC and long ETH or any of the other brand name coins. Now I know there will be some coin no one has ever heard of that will rally 100's of % or something silly but I'm not capable of fishing out which ones--I'll just stick the "A" team of coins.