What is the direction of highest probability today? (04/01/10)

Happy 2010!

Herewith your Probability Studies, but first a note on the key events for today:

Eurozone PMI @ 09:00 GMT

UK PMI @ 09:30 GMT

UK Mortgage approvals @ 09:30 GMT

US ISM @ 15:00 GMT

Probability Studies:

Direction of Highest Probability: BEARISH

60 minute trend resistance: 1.4415

Bullish Probability above: 1.4415

Significant resistance: 1.4415, 1.5000

Significant support:1.4260, 1.4165

Direction of Highest Probability: BULLISH

60 minute trend support: Not applicable

Bearish Probability below: 1.6070

Significant support: 1.6070, 1.6035

Significant resistance:1.6400

Direction of Highest Probability: BULLISH

60 minute trend support: 0.8950

Bearish Probability below: 0.8950

Significant support: 0.8950

Significant resistance:0.8990

Direction of Highest Probability: BULLISH

60 minute trend support: 92.36

Bearish Probability below: 92.36

Significant support: 91.79

Significant resistance:93.40

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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

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