18 June Probability Studies

The only significant announcement today is the BoE MPC minutes. In the meantime across the atlantic we have to focus on the technical climate as the dollar might not strengthen before we hear more comments from the FED regarding interest rates

Herewith the Probability Studies for Today:

EUR/USD – No Trade Zone within a Bullish Probability. Price is still trending within the bullish 60minute trend’s channel and as soon as we see a confirmed bullish cross from the 1 hour stochastic we will have a suitable trading condition

USD/CHF – No Trade Zone within a Bearish Probability. he bearish 60minute trend is still intact therefore the bearish probability. Once the 1 hour indicators cross bearish again we will have a suitable bearish trading condition. If price moves above the bearish Current Trend’s resistance line (blue) and the 60minute trend is violated to the upside we will have a bullish trading condition once again

GBP/USD – Bearish Trading Condition. As long as the 1 hour indicators stay bearish the trading condition will prevail. Keep and eye on the BoE meeting minutes later today as it can have a probability changing effect

USD/JPY – No Trade Zone within a Bearish Probability. The bearish 60minute trend is still intact therefore the bearish probability. Once the 1 hour indicators cross bearish again we will have a suitable bearish trading condition. If price takes out the high of 108.57, we will have a bullish trading condition

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