Review for the 7 of February 2007
Axel
Eur/usd usd/jpy gbp/usd usd/chf
200-d MA 1.2825 116.70 1.8966 1.2351
3- res 1.3074 121.20 1.9780 1.2512
2- res 1.3038 120.92 1.9748 1.2460
1- res 1.3000 120.64 1.9722 1.2428
Pivot* 1.2983 120.32 1.9706 1.2406
1- sup 1.2951 120.00 1.9668 1.2388
2- sup 1.2913 119.68 1.9623 1.2375
3- sup 1.2877 119.50 1.9549 1.2340
Europe
On the European session the was a zigzag downwards at GBP that was lower than the previous one on m15 = zigzag downwards on h1 - this is a narrow corridor and show possible directions of further movement.
Red levels – resistences
Blue levels - supports
Variant A.
Up - an up wave on h1 in case of puncture of 1.9722 (for determination of resistences add a fibo grid from a recoil on h1 1.9672-1.9722)
Resistenses are according to the chart
1 1.9722 = local min = crossing of grids
2 1.9745 = previous max on h4 (1.9747) + 162% from the flat at GBP
3 1.9760 (+ 76% D1) + 200% from the night flat + 162% from the recoil on h1
4 1.9775 = 200% from h1
Variant B.
a) a turn downwards on m15 (with puncture of 1.9670 - a pivotпивота on h4)
* if resistence 1.9722 resists = a wave C
Important support levels are according to the chart
1 1.9672 = 38% IMN h1
2 1.9640 = 62% + 162% from wave A
3 1.9620 = 76% + 200% from wave A
4 1.9588 = 100% + 262% from wave A
Movement is inside the flat.
1.Flat.
2.Grid on a recoil on m15
3.1-st target + an important level of the bigger TF
4.Turn and forming of a wave to opposite direction (a grid on a zigzag on m5)
5.Turn on m15 + a grid on m15
6.Points of exit.
7.Desirable points of exit