Monday 22 April 2013

USDZAR POSSIBLY APPROACHING SHORT TERM HIGH

USDZAR has thrust higher out of a 4th wave triangle this morning .Triangles occur in 4th waves or B waves and precede a final move in a sequence.Thrusts from triangles are almost always fully retraced .This thrust higher in USDZAR once complete should give way to a retracement at least to the apex of the triangle +-9.1500.The bigger picture is for a weaker ZAR though and we will use this pull back to reinstate long USDZAR positions

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