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:
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