What Happen On February 2009:
Trading Range is between 1.4050 (02 February 2009 Low) to 1.4985 (09 February 2009 High Level). Both are used as:
1. Initial Support - 1.4050
2. Initial Resistance - 1.4985
The move from 1.3500 (2009 year Low and 23 year record Low) is a consolidations from 2.1144 (01 November 2007 record high for GBP/USD)sharply drop and bounce back to met 1.5372 (2009 High Level)on 08th January 2009. Please reffer the Daily Chart attached to get more view on this statement.
So What Next Will Happen On Mach 2009 - Please Dont Belive me:
Yes please don't belive me because this is only my view and my predictions for my student only. For them please use these predictions for your own predictions using all the relevan indicator on H4 chart and M30/M5 and H1 charts.
As I've told on friday 27th Febraury 2009, trading range is between 1.4050 and 1.4660. If breaks any level candle will drop or go further. Fail to do so candle will find Mr. Pivot again at 1.4277 and if break, candle will move further.
But both movement candle fail to break those intial support and resistance. Candle bounce back to Mr. Pivot and move further up but fail to meet my first target at 1.4416 that end at level 1.4363. But Sell area met my first target at 1.4150 and drop until met 1.4109 fail to break my second target at 1.4050 - a different of 59 pips only.
On Daily chart candle stop at 1.4314 area on IBFX chart. Already performed the continuations of the Harami movement as I mention on Friday predictions. So do weekly chart that also performed Harami pattern and look like candle will move furthur up on monday morning and maybe a gap will commenced. The BB are flat and candle on next week will move between middle band.
The nearest Resistance is 1.4660 but if break this level candle will test 1.4985 level. From here it will test 2009 record high at 1.5372.
On H4 chart candle already above Middle of BB and support by the RSI 7 that is on the way to go up. Anyway candle before close at high and suppose next candle must drop first before make a continuations on Bullish move.
So for me let just see what will happen on monday morning when Asia Market open at 07.00 am Malaysia clock. Until then please read all the analysis statement given to you before.
Salam and Allah Hu.
