by Johan Kriek (jkriek@fxinstructor.com)
KEY EVENTS THAT COULD HAVE A “PROBABILITY CHANGING EFFECT”:
11AM GMT = BoE Rate decision
* A hike could send the GBP higher
11:45AM GMT = ECB Rate decision
* A hike could send the EUR higher
Probabilities:
Direction of Highest Probability: BULLISH
60 minute trend support: 1.4700
Bearish Probability below: 1.4700
Significant support: 1.4700, 1.4695
Significant resistance:1.4844
Direction of Highest Probability: BULLISH
60 minute trend support: 1.5840
Bearish Probability below: 1.5840
Significant support: 1.5840
Significant resistance:1.6080, 1.6090
Direction of Highest Probability: BULLISH
60 minute trend support: 0.8950
Bearish Probability below: 0.8950
Significant support: 0.8950
Significant resistance:0.9040 (top of broadening formation channel, a break here could send the AUD higher)
Direction of Highest Probability: BEARISH
60 minute trend resistance: 88.90
Bullish Probability above: 88.90
Significant resistance: 88.90, 89.40
Significant support:87.96 (minor, previous low)
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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
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