By Johan Kriek (jkriek@fxinstructor.com)

Key notes

- The markets are sideways (you’ll see all the No Trade Zones)

- No real significant fundies are released today except pending home sales later in the US session

- I’d rather sit back and be patient and wait for those breaks

Probability Studies:

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 1.4800

Bullish Probability above: 1.4800

Significant resistance: 1.4800

Significant support:1.4695

Direction of  Highest Probability:No Trade Zone – Wait for pattern to breakout first

Bearish Probability below: 1.6345

Bullish Probability above: 1.6535

Significant resistance: 1.6535, 1.6630

Significant support:1.6350, 1.6345, 1.6050

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 0.9070

Bullish Probability above: 0.9070

Significant resistance: 0.9070, 0.9125

Significant support:0.8950

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 90.75

Bullish Probability above: 90.65

Significant resistance: 90.656

Significant support:89.44

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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