The Greenback strengthened alot due to the better-than-expected fundamentals which were released last week. We are therefore definitely still optimistic about the dollar recovery. The BoE and ECB interest rate decisions are the most significant impact the market should experience this week and consensus are for no change therefore we might expect a technically driven market this week which is always a good thing

Herewith the Probability Studies for today:

EUR/USD – No Trade Zone. The previous bearish 60minute trend has been violated to the upside and therefore a No Trade Zone developed. We also identified an interim bullish 60minute trend and should this trend be violated to the downside and the violation is confirmed with bearish market rhythm, we will definitely have a closer look at possible shorts once again. If highs are taken out and the indicators stay bullish, the EUR will be situated within a Bullish Trading scenario. Just keep the Current Trend resistance line (Blue Line) in mind at 1.5510 as it should prove to be pretty significant

 USD/JPY – Bullish Trading Condition. Price is in the process of bouncing on the 60minute trend support line which is also confirmed with bullish hourly indicators. Therefore the great bullish trading condition

 GBP/JPY – No Trade Zone. We have a Bullish 60minute trend with bearish indicators which places this one in a no trade zone.

 GBP/USD – No Trade Zone within a Bearish Probability. As soon as the indicators cross bearish, we will have a bearish condition on our hands

 EUR/JPY – No Trade Zone within a Bullish Probability. The previous bearish 60minute trend has been violated to the upside on Friday and a subsequent bullish 60minute trend has therefore been identified. Should price continue to take out new highs, the indicators will cross bullish again. We will also watch the trendline support of the 60minute trend closely..

 EUR/GBP – Bullish Trading Condition. As soon as price moves above the 0.7840 resistance and as long as price moves within the new bullish 60minute trend and the indicators stay bullish, the Bullish Trading Condition will prevail

 EUR/CHF – No Trade Zone within a Bullish Probability. As soon as the indicators cross bullish, the EUR/CHF will be suitable for bullish trades once again

 USD/CHF – No Trade Zone within a Bullish Probability. As soon as the indicators cross bullish, the CHF will be suitable for bullish trades once again

 USD/CAD – No Trade Zone. The CAD is (as usual) untradeable. The 60minute trend support line has been violated in a sideways manner. As soon as we see lower peaks a new bearish 60minute trend will be identified but as for now, price is consolidating

 AUD/USD – No Trade Zone. Price has bounced on the Current Trend support line (blue line) and is now heading to the bearish 60minute trend resistance line at 0.9440. If this resistance is taken out, the AUD will be situated within a bullish probability but we can still encounter a bounce on this trendline and should the indicators cross bearish again the AUD will be situated within a bearish trading condition once again. Should the latter materialise, expect support at 0.9300