by Johan Kriek (jkriek@fxinstructor.com)

The currencies are pretty mixed this morning. Nevertheless, I see a trading condition on the EUR and JPY

Direction of  Highest Probability: BULLISH

60 minute trend support: 1.4710

Bearish Probability below: 1.4710

Significant support: 1.4710, 1.4685

Significant resistance: 1.4842

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 1.6380

Bullish Probability above: 1.6435

Significant resistance: 1.6435, 1.6630

Significant support: 1.6140

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 60MINUTE TREND NOT YET IDENTIFIED

Bullish Probability above: 0.8750

Significant resistance: 0.8787

Significant support: 0.8670

Direction of  Highest Probability: BEARISH

60 minute trend resistance: 91.30

Bullish Probability above: 91.30

Significant resistance: 91.30, 91.80

Significant support: 90.20, 90.00

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