What is the direction of highest probability today? (13/10/09)

by Johan Kriek (jkriek@fxinstructor.com)

UK inflation and the ZEW economic sentiment figures from Germany could have an impact later

Probability Studies:

eur

Direction of  Highest Probability: BULLISH
60 minute trend support: 1.4735
Bearish Probability below: 1.4735
Significant support: 1.4735, 1.4500
Significant resistance:1.4812

gbp

Direction of  Highest Probability: BEARISH
60 minute trend resistance: 1.5787
Bullish Probability above: 1.5900
Significant resistance: 1.5900
Significant support:1.5720

aud

Direction of  Highest Probability: BULLISH
60 minute trend support: 0.9060
Bearish Probability below: 0.9060
Significant support: 0.9060
Significant resistance:0.9094

jpy

Direction of  Highest Probability: BULLISH
60 minute trend support: 89.82
Bearish Probability below: 89.82
Significant support: 89.82
Significant resistance:90.23

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This analysis has been based on the Probability Study Technique which is derived from the Dow Theory

Also note that a “trading condition” does not constitute a trading signal, but rather a context to execute your own trading system within.

For more about the Probability Study Technique, please visit forums.fxinstructor.com or register yourself a seat at
http://www.fxinstructor.com/eng/courses/probability-reserve.php to learn this technique

Enjoy and good luck!

Johan