by Johan Kriek (jkriek@fxinstructor.com)

Due to the Japanese and US public holidays today the market was either very volatile at times or it was consolidating. At this point in time price is consolidating across the board due to the lack of volume

Nevertheless, tomorrow could be very interesting because it will effectively be the start of the week for most of us

Also, the following directions of highest probability could change overnight so rather join me in the Live Trading Room at 3am GMT tomorrow morning to stay up to date.

Probabilities:

Direction of  Highest Probability: BULLISH

60 minute trend support: 1.4730

Bearish Probability below: 1.4730

Significant support: 1.4730, 1.4695

Significant resistance:1.4813

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 1.5807

Bullish Probability above: 1.5883

Significant resistance: 1.5807

Significant support:1.4850

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 0.9070

Bullish Probability above: 0.9070

Significant resistance: 0.9070

Significant support:0.8850

Direction of  Highest Probability: BULLISH

60 minute trend support: 89.60

Bearish Probability below: 89.60

Significant support: 89.60

Significant resistance:90.30

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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-reserve.php to learn this technique

Enjoy and good luck!

Johan