The Greenback weakened across the board on the back of the weak unemployment figure released on Friday. Also, the fact that Trichet is continuing his “hawk-talk” makes matters worse for the already burnt-out Dollar. Focus has now shifted to a Dollar-Weakening bias until further notice. Keep an eye on the UK inflation figures today (PPI) as well as it will give us some insight on the BoE’s plans as well

Herewith the Probability Studies for Today:

EUR/USD – No Trade Zone within a Bullish Probability. Although we had the chance to identify a new bullish 60minute trend, we have to wait for the hourly indicators to cross bullish once again before attempting any bullish trades. The most important support to watch at this time would be 1.5750 which is the Major Trend violated Resistance, now Support. If price moves below 1.5750, we will have a bearish probability once again.

USD/CHF – No Trade Zone within a Bearish Probability. We identified a new bearish Current Trend as well as a 60minute trend. Wait for the hourly indicators to give bearish signals before attempting any bearish trades

USD/JPY – No Trade Zone within a Bearish Probability. We identified a new bearish 60minute trend and if price manages to stay below 105.70, the bearish probability will stay intact. Wait for the hourly indicators to cross bearish before trading this one

GBP/USD – No Trade Zone within a Bullish Probability. As soon as the hourly indicators cross bullish once again, we will have a suitable bullish trading condition. Keep and eye on 1.9750 and 1.9840. Should 1.9840 be taken out, we can identify a whole new bullish Major Trend

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