Tuesday 25 June 2013

Consolidation Ending in USDZAR


Price action suggest we may have bottomed in wave 4 this morning.Wave e ended with a 'throwunder' the triangle's lower boundary followed by a quick reversal .8 hourly bollinger bands have turned up and stochastics are trying to turn higher from oversold readings .A move above 10.3200 would complete the triangle .Targets are 10.7000-10.85000.A move below 9.9200 would weaken this scenario and below 9.8200 would negate it.

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