ue to the lack of significant fundamentals today, we will have to watch earnings today from Bank of America amidst renewed interest in carry trades due to the better than expected results in the banking sector. Citigroup, Wells Fargo and JPMorgan had better than expected results. This does not mean that the credit crisis is coming to and end but it surely does improve investor confidence

Herewith the Probability Studies for Today:

EUR/USD – No Trade Zone within a Bullish Probability. The bearish 60minute trend has been violated to the upside and therefore the bullish probability. Please note that the bullish probability IS NOT TRADEABLE as price has to move above the previous significant high of 1.5894 before we can identify a new bullish 60minute trend and ultimately a bullish trading condition. Therefore, keep and eye on the bullish Current Trend Support (Blue line). If the Current Trend is violated to the downside we will see the previous bearish trading condition resume. In a nutshell, price is ranging between 1.5894 and 1.5820. Let’s wait for price to break out of the range before we make a call. Join us in the LTR to view a live analysis for the EUR

GBP/USD – No Trade Zone within a Bearish Probability. Although the previous bullish 60minute trend has been violated to the downside and we identified a new bearish 60minute trend already, we will have to wait for the previous low at 1.9900 to be taken out before we will have a continuation of the bearish trading condition. Just wait for the confirmation and Bob’s your Uncle!

USD/JPY – No Trade Zone within a Bearish Probability. The bullish 60minute trend has been violated, therefore the bullish trading condition we had is no more. Wait for the violation to be confirmed before trading this one as price is consolidating and not really taking out lows at this stage which is a concern…

USD/CHF – Bullish Trading Condition. The bullish trading condition is still intact although the range of the 60minute trend is quite large. Market rhythm is definitely trending higher and if price manages to take out the previous highs at 1.0250/60, we will have a serious confirmation and then we might even identify a new, more active 60minute trend

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