By Johan Kriek (jkriek@fxinstructor.com)

Key notes:

- Swine Flue will most probably hit equities hard, suspected to move to Asia next

Probability Study

The major trend on the EUR still remains bearish at this stage with the possibility of the huge Head and Shoulders now forming the peak of the right shoulder. Expect neckline support at 1.2550

The current (secondary trend) is bearish as well with intermediate support at 1.2950. Keep and eye on this one although I think it shouldn’t hold. We can also now see the most active cycle within the bearish current trend (green trend lines)

Here we have a 1 hour chart and clearly the 60minute trend is bearish. I am waiting for the 1 hour stochastic to cross bearish to present me with a nice trading condition. Let’s see how long this no trade zone within bearish probability lasts..

Join us in the Live Trading room here at FXInstructor to follow the moves first-hand

Enjoy your trading day

Johan