by Johan Kriek (jkriek@fxinstructor.com)

Key notes:

- US President Obama first fiscal stimulus package is expected to be signed into law today

- Equities still struggling

Probability Studies:

eur4

No trade zone, bearish probability. Market rhythm is consolidating at this stage after we’ve seen price bounce off the screen this morning. Nevertheless the probability remains bearish and I will certainly look at shorts as soon as the 1 hour stochastic gives me a confirmed bearish cross

gbp5

Same scenario as the EUR. No trade zone, bearish probability. Once the 1 hour stochastic presents me with a confirmed bearish cross I will have a nice bearish trading condition to execute my system

Hope you had a good day so far

Johan Kriek