New Zealand Triangle as Wave B
This Site:en.yinlu.net Source:en.yinlu.net Writer: Time:2007-11-21
Commentary: The Kiwi has been stuck in a range and based on the pattern that might be developing, this could remain the case. A triangle may be unfolding as wave B within a large A-B-C decline from .7891.
Under a triangle interpretation, price is likely to fall a bit more towards .7500 before a bounce in wave E of the triangle; then the thrust lower in larger wave C. A bearish stance is warranted against .7675.
Strategy: Bearish now, against .7675, target TBD
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