Review for the 6 February 2007
Axel
Eur/usd usd/jpy gbp/usd usd/chf
200-day MA 1.2823 116.66 1.8959 1.2351
3- res 1.3000 121.20 1.9700 1.2573
2- res 1.2982 120.92 1.9668 1.2549
1- res 1.2951 120.64 1.9623 1.2512
Pivot* 1.2927 120.29 1.9606 1.2489
1- sup 1.2913 120.00 1.9549 1.2460
2- sup 1.2877 119.68 1.9514 1.2423
3- sup 1.2850 119.50 1.9483 1.2391
Before Europe
prospects
from the point of view of h4-d1 this is down movement
UNTIL 1.2859 and 1.9481 = 2-d wave , then 3-d "long" wave on h4 inside 3-d on D1 at GBP
PUNCTURE of the minimum 1.2859 = 5-th (?)- down wave on D1 at EUR
a) further downwards
* look at a recoil upwards + puncture of the min = fibo targets are below from the recoil
1.9535 – local min of the american session
1.9507 - crossing of grids from a zigzag on h1 and a recoil
1.9481 - min on h4 + 423% from the recoil on h1
b) up –
* GBP - a turn on h1 (with a puncture of 1.9667) = 1-st wave - Calculate up fibo targets by it
* EUR - a puncture of h1=1.2965 upwards
* the main condition is that this down movement = 2-d wave and then powerful up movement with puncture of Friday's maximums
* analysts will remember straight away that USA - Non-farm Payrolls were worse.
I agree - for CHANGE of an impulse must be powerful bullish 5-waved movement of all allies (there are just indirect symptoms about POSSIBILITY of a turn and identification of this down movement as a 2-d wave)
Europe.
1. in the morning a down zigzag on h1 is HIGHER than the previous one at GBP = flat
2. a puncture of the resistence of BSF
3. wave structure of the up movement on m5
a) futher upwards - fibo targets upwards from"1-2 waves" ( + break 1.2935 by EUR- zigzag on m30)
b) puncture of the min of BSF
4. a recoil on m5 + puncture of the max = 3-d wave + fibo targets are above
5. possible finish of the session trend
there is 5-waved movement on m5
crossing of grids 1.9695 and 1.2950 (162% from h1 1.2912-36)
6. specification of the possible end - then there is coincidence of GBP grids not with 162%, but with 200% fibo targets at EUR.