01 May Probability Studies

Although the FED cut rates yesterday with 25bp they used words such as the rate cuts have been “substantial” and “no urgency” to cut rates again. This amplifies our greenback-strength bias

EUR/USD – Bearish Trading Condition. We adjusted the bearish 60minute trend to reflect the strong bearish underlying market movement and accompanied by bearish hourly indicators places this pair in a great bearish trading condition.

GBP/JPY – Bullish Trading Condition. As long as price moves within the bullish 60minute trend’s boundaries and the indicators stay bullish, the bullish condition will stay intact

GBP/USD – Bearish Trading Condition. We adjusted the bearish 60minute trend to reflect the strong bearish underlying market movement and accompanied by bearish hourly indicators places this pair in a great bearish trading condition.

EUR/JPY – Bearish Trading Condition. The 60minute trend is bearish, the hourly indicators are bearish and price keeps on taking out lows. Perfect

EUR/GBP – Bearish Trading Condition. As long as the indicators stay bearish and the 60minute trend stays intact, the bearish trading condition stays intact

EUR/CHF – Bullish Trading Condition. As long as price moves within the bullish 60minute trend’s boundaries and the indicators stay bullish, the bullish condition will stay intact. Expected resistance from 1.6230

USD/CHF – No Trade Zone Within a Bullish Probability. Although the CHF is taking out highs, it has to take out the 1.0440 high before a suitable bullish trading condition will present itself

USD/CAD – No Trade Zone Within a Bearish Probability. Although price is taking out highs at the moment, the bearish 60minute trend resistance line (green line) has to be violated to the upside before the CAD will be situated within a suitable bullish trading condition. On the other hand, the bullish Major Trend Support line (orange line) has to be violated significantly before the bearish probability will evolve within a suitable bearish trading condition

AUD/USD – No Trade Zone Within a Bullish Trading Condition. The bullish 60minute trend support line has to be violated to the downside before a suitable bearish trading condition will present itself. Expect resistance at 0.9470 should price continue to move within the bullish probability

USD/JPY – Bullish Trading Condition. Bullish 60minute trend with bullish hourly indicators. Expect to find moderate resistance at 104.80