What is the direction of highest probability today? (23/10/09)

by Johan Kriek (jkriek@fxinstructor.com)

Key events today:

Eurozone PMI @ 8:00GMT

UK GDP @ 08:30GMT

US Existing Home Sales @ 14:00

Probability Studies:

Probability Studies:

eur

Direction of  Highest Probability: BULLISH
60 minute trend support:1.4970
Bearish Probability below:1.4970
Significant support:1.4970
Significant resistance:1.5060

gbp

Direction of  Highest Probability: BEARISH
60 minute trend resistance:1.6656
Bullish Probability above:1.6676
Significant resistance:1.6676, 1.6656
Significant support:1.6600

aud

Direction of  Highest Probability: BEARISH
60 minute trend resistance:0.9285
Bullish Probability above:0.9285
Significant resistance:0.9285
Significant support:0.9227

jpy

Direction of  Highest Probability: BULLISH
60 minute trend support:91.40
Bearish Probability below:91.40
Significant support:91.40, 90.35
Significant resistance:95.00

___________________________________
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