USDZAR approaching a major low

 USDZAR looks to be finishing off a correction that should lead to renewed ZAR weakness .Assuming we bottom in this area (8.7000 the 0.618% level would be the maximum probable downside) targets would be 9.5100 (where wave 3 would equal wave 1) but more probably 9.9800 (where wave 3 would be 1.618*wave 1)

TOP 40 SPOT

The rally today appears to have completed a three wave rally from last week's lows.These lows should be exceeded in coming sessions .The question is will it be wave 5 or will the market accelerate in wave 3 of 3 ?Wave 5 will equal wave 1 at 35060 and will be 1.618* 1 at 34680.If we are dealing with a series of 1-2 s wave 3 should take us a lot lower ,possibly 32600 being 2.618* wave 1 before a consolidation in 4  than lower again