by Johan Kriek (jkriek@fxinstructor.com)
The currencies are pretty mixed this morning. Nevertheless, I see a trading condition on the EUR and JPY
Direction of Highest Probability: BULLISH
60 minute trend support: 1.4710
Bearish Probability below: 1.4710
Significant support: 1.4710, 1.4685
Significant resistance: 1.4842
Direction of Highest Probability: BEARISH
60 minute trend resistance: 1.6380
Bullish Probability above: 1.6435
Significant resistance: 1.6435, 1.6630
Significant support: 1.6140
Direction of Highest Probability: BEARISH
60 minute trend resistance: 60MINUTE TREND NOT YET IDENTIFIED
Bullish Probability above: 0.8750
Significant resistance: 0.8787
Significant support: 0.8670
Direction of Highest Probability: BEARISH
60 minute trend resistance: 91.30
Bullish Probability above: 91.30
Significant resistance: 91.30, 91.80
Significant support: 90.20, 90.00
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
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