What is the direction of highest probability today? (22/12/09)

by Johan Kriek (jkriek@fxinstructor.com)

Significant announcement for EU session:

- UK GDP @ 09:30 GMT

Probability Studies:

Direction of  Highest Probability: BEARISH
60 minute trend resistance: 1.4335
Bullish Probability above: 1.4335
Significant resistance: 1.4335
Significant support:1.3740, 1.4261

Direction of  Highest Probability: BEARISH
60 minute trend resistance: 1.6215
Bullish Probability above: 1.6430
Significant resistance: 1.6300, 1.6215
Significant support:1.5706

Direction of  Highest Probability: BEARISH
60 minute trend resistance: 0.8933
Bullish Probability above: 0.8933
Significant resistance: 0.8933, 0.9090
Significant support:0.8560

Direction of  Highest Probability: BULLISH
60 minute trend support: 90.25
Bearish Probability below: 90.25
Significant support:90.38,  90.25
Significant resistance:93.00

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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 your festive season and thanks to all my supporters! See you in 2010

Johan