by Johan Kriek (jkriek@fxinstructor.com)

Key events:

- US inflation figures in the form op PPI at 12:30GMT

Key notes:

- Price is consolidating across the board. If you are patient enough to wait for those breakouts you will be rewarded

Probability Studies:

Direction of  Highest Probability: BULLISH

60 minute trend support: 1.4880

Bearish Probability below: 1.4880

Significant support: 1.4880

Significant resistance:none

Direction of  Highest Probability: BULLISH

60 minute trend support: 1.6380

Bearish Probability below: 1.6380

Significant support: 1.6380

Significant resistance:1.6448

Direction of  Highest Probability: BULLISH

60 minute trend support: 0.9270

Bearish Probability below: 0.9270

Significant support: 0.9270, 0.9210

Significant resistance:none

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 90.55

Bullish Probability above: 90.55

Significant resistance: 90.55, 91.30

Significant support:89.67

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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

What is the direction of highest probability today? (20/10/09)