28 May Probability Studies

We have the Eurozone Current Account and US Durable Goods today, therefore we could see some serious market action as Crude stays below $130. Our strong dollar bias remains intact as long as the EUR stays below 1.5815

 Herewith the Probability Studies for Today:

 EUR/USD – No Trade Zone within a Bearish Probability. The bullish 60minute trend has been violated to the downside, therefore the bearish probability. All we have to do now is wait for the hourly indicators to cross bearish before attempting any trades. A bonus would be if price trends below 1.5700 again…

GBP/USD – No Trade Zone within a Bearish Probability. Although the bullish 60minute trend has been violated to the downside, the GBP is relatively mixed at this stage. Bearish crosses on the hourly indicators will give us an indication of a possible bearish trading condition. Expect serious support at 1.9650

USD/CHF – No Trade Zone. Price came back to find significant resistance at the previous bullish current trend’s violated support (now resistance). Although market rhythm is trending lower, we would wait for the 1.0214 low to be taken out to confirm that price is in fact defining new lows from a 60minute probability perspective

USD/JPY – No Trade Zone within a Bullish Probability. The bearish 60minute trend resistance has been violated, therefore the bullish probability. Wait for the hourly indicators to cross bullish before trading. The latter will also confirm the violation and present us with a suitable higher trough to identify a new bullish 60minute trend

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