What is the direction of highest probability today? (04/12/09)

by Johan Kriek (jkriek@fxinstructor.com)

Key events today:

US Unemployment rate @ 13:30 GMT

*it is advised not to trade just before this announcement as it can have a “probability changing effect”

Probability Studies:

Direction of  Highest Probability: BEARISH
60 minute trend resistance: na
Bullish Probability above: 1.5141
Significant resistance: 1.5141
Significant support:1.4920

Direction of  Highest Probability: BEARISH
60 minute trend resistance: na
Bullish Probability above: 1.6600
Significant resistance: 1.6600, 1.6680
Significant support:1.6280

Direction of  Highest Probability: BEARISH
60 minute trend resistance: na
Bullish Probability above: 0.9310
Significant resistance: 0.9310
Significant support:0.9035

Direction of  Highest Probability: BULLISH
60 minute trend support: 88.00
Bearish Probability below: 88.00
Significant support: 88.00, 84.78
Significant resistance:88.00, 88.35

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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.php to learn this technique or to book a free Level 1 class

Enjoy and good luck!

Johan