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Tuesday, November 12, 2013

Elliott wave analysis of USD/JPY and NZD/USD

USD/JPY

Has broken above the triangle resistance-line and all we need now is a break above 100.61 to confirm that a thrust out of the triangle is developing in the final red wave V higher towards 106.50.


NZD/USD

Is just about to break below the S/H/S top neckline at 0.8190 and a break below here will call for a decline towards 78.46 as wave d of the longer term triangle.

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