02 May Probability Studies – US Data Today Key

NFP Key to Dollar today:

The payroll figure is released at 12:30 pm GMT today and confidence in the neutrality of the FED will be greatly increased if we see a better-than-forecast figure. Of course if we see a positive figure (consensus for today’s release is -78k) the greenback will most probably continue strengthening against the other pairs

EUR/USD – Bearish Trading Condition. As usual we have a bearish 60minute trend accompanied by bearish hourly indicators. Expect minor support at 1.5431. Also, the data released in the US today will definitely have a serious effect on the market. Expect some volatility and then maybe/hopefully a trending market up to the close of the US session

USD/JPY – No Trade Zone within a Bullish Probability. Just wait for the hourly indicators to cross bullish and you have a great trading condition on your hands. Expect minor resistance at 105.00

GBP/JPY – Bullish Trading Condition. As long as the indicators stay bullish and price trends above the 60minute trend support line the bullish trading condition stays intact

GBP/USD – No Trade Zone within a Bearish Probability. As soon as the indicators cross bearish the GBP will be ready to give us ample opportunities to trade bearish. Just keep note of the 60minute trend resistance line (green line) at about 1.9930. If it is violated to the upside the bearish probability will be no more

EUR/JPY – Bearish Trading Condition. Price is trending beautifully within the boundaries of the underlying bearish 60minute trend and as long as the indicators stay bearish, ample trading opportunities will present itself

EUR/GBP – Bearish Trading Condition. Price is trending beautifully within the boundaries of the underlying bearish 60minute trend and as long as the indicators stay bearish, ample trading opportunities will present itself

 

EUR/CHF – Bullish Trading Condition. Bullish 60minute trend. Bullish hourly indicators. Expect minor resistance at 1.6250

USD/CHF – Bullish Trading Condition. Bullish 60minute trend. Bullish hourly indicators. What a pleasure!

USD/CAD – No Trade Zone within a Bullish Probability. The previous bearish 60minute trend resistance line has been violated and therefore we identified the new bullish 60minute trend. Price might be in the process of confirming the violation and as soon as market rhythm starts trending higher it will force the hourly indicators bullish as well

AUD/USD – No Trade Zone within a Bearish Probability. As soon as the indicators cross bearish again the AUD will be suitable for trading. At this point in time it is best to stand back on this one