by Johan Kriek (jkriek@fxinstructor.com)

Events to watch for in the European morning session:

Eurozone PMI @ 09:00 GMT

UK Unemployment @ 09:30 GMT

Eurozone CPI @ 10:00 GMT

**Watch for the rate decision in the US later

Probability Studies:

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 1.4580

Bullish Probability above: 1.4580

Significant resistance: 1.4870

Significant support:1.4480

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 1.6310

Bullish Probability above: 1.6310

Significant resistance: 1.6310, 1.6580

Significant support:1.6216, 1.5706

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 0.9060

Bullish Probability above: 0.9060

Significant resistance: 0.9060, 0.9175

Significant support:0.8916

Direction of  Highest Probability: BULLISH

60 minute trend support: 89.07

Bearish Probability below: 89.07

Significant support: 89.07, 84.78

Significant resistance:90.00, 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 and good luck!

Johan