wynnasuju
Banned spammer for FBS.com
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NZD/USD: Elliot waves (Westpac)
Friday, September 7, 2012 - 08:19
Analysts at Westpac suggest that NZD/USD remains in a very broad upward trend since March 2009. In their view, the triangular consolidation since August 2011 appears to be a correction of the rally from May 2010 – the fourth corrective Elliot wave which may be subdivided into 5 smaller waves. Any eventual breakout from the triangle “should be upwards in a fifth and final wave to fresh record high, probably in 2013.”
Chart. Weekly NZD/USD
NZD/USD: Elliot waves (Westpac) // FBS Markets Inc.
Friday, September 7, 2012 - 08:19
Analysts at Westpac suggest that NZD/USD remains in a very broad upward trend since March 2009. In their view, the triangular consolidation since August 2011 appears to be a correction of the rally from May 2010 – the fourth corrective Elliot wave which may be subdivided into 5 smaller waves. Any eventual breakout from the triangle “should be upwards in a fifth and final wave to fresh record high, probably in 2013.”
Chart. Weekly NZD/USD
NZD/USD: Elliot waves (Westpac) // FBS Markets Inc.