Hi there fellow traders!

Please view a video of the EUR’ s direction of highest probability for the european and us session for today:

http://www.youtube.com/watch?v=UVk1zDwpg90

Just a few notes:

Resistance = 1.4130 (intermediate bearish trendline resistance as discussed in the video)

Support = 1.3900 (60minute trend support as discussed in the video)

Also note that the market is in consolidation mode.  The ECB’s monthly bulletin could spark a volatile move when it is released at 8am GMT

HEADLINE NEWS:

June 10 (Bloomberg) — “Russia may switch some of its reserves from U.S. Treasuries to International Monetary Fund bonds, the central bank said today. The comment drove Treasuries and the dollar lower”

In the US session later I will be watching Jobless Claims and Retail Sales figures for additional movement

Enjoy!

Johan Kriek

jkriek@fxinstructor.com