by Johan Kriek (jkriek@fxinstructor.com)
Due to the Japanese and US public holidays today the market was either very volatile at times or it was consolidating. At this point in time price is consolidating across the board due to the lack of volume
Nevertheless, tomorrow could be very interesting because it will effectively be the start of the week for most of us
Also, the following directions of highest probability could change overnight so rather join me in the Live Trading Room at 3am GMT tomorrow morning to stay up to date.
Probabilities:
Direction of Highest Probability: BULLISH
60 minute trend support: 1.4730
Bearish Probability below: 1.4730
Significant support: 1.4730, 1.4695
Significant resistance:1.4813
Direction of Highest Probability: BEARISH
60 minute trend resistance: 1.5807
Bullish Probability above: 1.5883
Significant resistance: 1.5807
Significant support:1.4850
Direction of Highest Probability: BEARISH
60 minute trend resistance: 0.9070
Bullish Probability above: 0.9070
Significant resistance: 0.9070
Significant support:0.8850
Direction of Highest Probability: BULLISH
60 minute trend support: 89.60
Bearish Probability below: 89.60
Significant support: 89.60
Significant resistance:90.30
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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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