Forecast for the 20 of February 2007
Europe
There is a wide flat on h4 at GBP 1.9401-1.9677
The rest currencies are squeezed inside narrow corridors - as a hint of direction choice
EUR on h4 1.3094-1.3175
Variant A.
Upwards
1.1.3161 - h1 maximum
2.1.3173 - h4 maximum
3.1.3220 162% from a recoil on h1 + 200% from D1
4.Local minimum
5.minimum of a zigzag on h4
6.EUR - a POWERFUL puncture of a resistence 1.3175 (162% 1.3220 + 200% from D1)
Condition at GBP - not puncture of 1.9400 + puncture of the max 1.9565 (h1 max)
From a recoil that hasn't broken rules of trend - BUY.
7.Provided puncture of 1.3233 - movement downwards + movement at GBP: from a recoil that hasn't broken this down trend - SELL
Variant B
Downwards
At GBP
1.Down to the min 1.9430 there are levels of a grid of the current movement
2.1.9430 = local minimum
3.1.9401 = 162% from h1 recoil 1.9462-1.9565 (proveded that 1.9565 won't be punctured)
4.1.9355 = 200% from h1 recoil 1.9462-1.9565
5. Local max 1.9565
6. In case of puncture of 1.9430 will be down movement + allies, from a recoil that hasn't broken rules of trend - SELL.
7. In case of puncture of 1.9565 will be movement upwards + EUR punctures its levels, - from a recoil that hasn't broken rules of trend - BUY
Was written at 0:28 GMT
I am late a little: the up movement began at the Asian session