Amidst the failure of Freddie and Fannie and the battering of the Greenback we have inflation in figures in the form of PPI in the UK and Eurozone Industrial Production. Later in the US session, the Fed Governors Vote on Mortgage Rules and it will be interesting to see how this pans out. Nevertheless, with Eurozone inflation figures coming out later in the week as well as earnings reports. This week will be pretty volatile as the EURO is the new safe haven

Herewith the Probability Studies for Today:

EUR/USD – No Trade Zone within a Bullish Probability. The 60minute trend has been adjusted to reflect the most active trend within the channel of the Current Trend. As soon as the 1 hour Stochastic confirms the bullish cross, we will have yet another bullish trading condition. We might even see 1.6000 early this week on the EUR…

USD/CHF – No Trade Zone within a Bearish Probability. The best position for any overbought/oversold indicator is to be overbought within a bearish probability and vice versa. Therefore we can just wait for the 1 hour Stochastic to cross bearish and we will have a fully fledged bearish trading condition on our hand

USD/JPY – No Trade Zone within a Bearish Probability. We have an intact bearish 60minute trend, determining the direction of highest probability. What we have now at this point in time is a retrace and as soon as the 1 hour indicators point South again, we will have a bearish trading condition. Patience is the key

GBP/USD – No Trade Zone within a Bullish Probability. Just like the EUR/USD the Cable is still situated within a bullish probability but we have to wait for the perfect trading condition and this will only happen once the 1 hour indicators give us bullish crosses, especially the Stochastic

To view a more in-depth analysis on the other pairs such as the AUD and CAD crosses, please visit our Live Trading Room at
http://www.fxinstructor.com/eng/ltr to see and hear our FXInstructors analyse the markets and identify trades