Forecast for the week 12 – 16 Feb 2007
The direction of the following trend will depend on the next conditions
GBP - a puncture of or a bounce from the support 1.9454(important level)
EUR - a corridor inside zigzag h1 1.2977-1.3044 (prolongation of the bullish impulse or a turn)
Upwards
Eur - resistences are the same
1.3044 = local max (the 1-st support level, the max of the previous week)
1.3058 = 162% from h1 corridor (1.2976-1.3027) + 162% from m15 corridor (1.3024-42)
1.3080 = 200% from h1 corridor (1.2976-1.3027)
1.3100 = 200% from a corridor 1.2984-1.3044
1.3110 = 262% from h1 corridor (1.2976-1.3027) + 50% from D1 + 200% from h1 corridor 1.2976-1.3044
1.3157 = 162% from h4 corridor (1.2919-1.3063) + 262% h1 1.2976-1.3044
Downwards
1)1.9452 - 200% from m5
2)1.9443 - 262% from h1
3)1.9430 - 262% from m5
4)1.9415 - 162% from h4 (an iportant level)
5)1.9373 - 362% from h1
6) in case of consolidation under the 1-st resistence it will be an intraweek sell with fulfillment of targets and reserve of movement for a week
7) false puncture and entrence into the flat, in case of puncture and consolidation beyond the 1.9600 it will be intraweek buy.
The alternative is a turn upwards on m30-h1 charts and prolongation of the long-term trend.