Wednesday, September 11, 2013

Elliott wave analysis of USD/ZAR - Wave E of the major triangle is developing

USD/ZAR

JT has asked me a couple of times of my opinion on this pair. On June 25 I did this post:
http://theelliottwavesufer.blogspot.dk/2013/06/elliott-wave-analysis-on-usdzar-long.html

Wave D didn't quite make it to 10.70 and I think it's safe to conclude after the break below 10.04 (a break below 9.72 will confirm the end of wave D), that wave D of the long term major triangle is finished and wave E is developing for a decline towards 8.5140 and maybe even down to 8.0434 before we will see a major thrust out of the triangle towards the upside.

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