What is the direction of highest probability today? (14/10/09)

by Johan Kriek (jkriek@fxinstructor.com)

The FOMC minutes later in the US session could be a “market mover”. So keep an eye out for that

Probability Studies:

 

eur

Direction of  Highest Probability: BULLISH
60 minute trend support: 1.4800
Bearish Probability below: 1.4800
Significant support: 1.4800, 1.4487
Significant resistance:1.5036

gbp

Direction of  Highest Probability: BULLISH
60 minute trend support: 1.5912
Bearish Probability below: 1.5912
Significant support: 1.5912
Significant resistance:1.6000

aud

Direction of  Highest Probability: BULLISH
60 minute trend support: 0.9095
Bearish Probability below: 0.9095
Significant support: 0.9095, 0.8735
Significant resistance:0.9845

jpy

Direction of  Highest Probability: BEARISH
60 minute trend resistance: 89.79
Bullish Probability above: 89.79
Significant resistance: 89.79, 90.00
Significant support:88.70

___________________________________
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