by Johan Kriek (jkriek@fxinstructor.com)

We could see a volatile trading day today due to the following announcements:

8:00AM GMT – ECB Monthly bulletin,

9:00AM GMT – EUROZONE CPI (huge inflation figure)

12:30AM GMT – US CPI (another huge inflation figure)

Inflation and inflation expectations move markets due to the fact that it governs Interest Rates. If interest rates go higher then the underlying currency will strengthen. Keep and eye on these figures..

Probability Studies:

Direction of  Highest Probability: BULLISH

60 minute trend support: 1.4830

Bearish Probability below: 1.4830

Significant support: 1.4830

Significant resistance:1.5070

Direction of  Highest Probability: BULLISH

60 minute trend support: 1.6056

Bearish Probability below: 1.6050

Significant support: 1.6056, 1.6050, 1.5966

Significant resistance:1.6444

Direction of  Highest Probability: BULLISH

60 minute trend support: 0.9170

Bearish Probability below: 0.9170

Significant support: 0.9170

Significant resistance:0.9845

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 89.63

Bullish Probability above: 89.63

Significant resistance: 89.63

Significant support:89.10

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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