USD/ZAR
| Feb 25, 2008 07:00PM ET
Here is a currency that we don't talk about everyday. The USD/ZAR (South African Rand) looks to be in a good movement down.
We're looking at the 3rd wave of a Zig Zag (ZZ) correction. Among our love for trading Wave 3's of Impulse waves, we like trading these waves as well.
We completed the 1st wave in November 2007, then up to complete Wave 2 on February 20. We are now heading down to a Wave 3.
Refer to the chart.
Good luck.
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