USDPLN, US Dollar/Polish Zloty: two counts to track

Arkady Yakhnis By

USDPLN, US Dollar/Polish Zloty: two counts to track; both make sense over 3.7311 - and the moderate rally count seems to be less likely, imHo. Impulsive rally scenario shown on the Primary chart will be tested at 5.047 resistance region.
4.513 resistance is the key to the Alternate count - it only makes sense below this resistance; direct break through 4.513 would be the reason to discard the count and re-calculate target projection pointing to much higher levels.
BaseCase - PLN= - Primary Analysis - Nov-12 1347 PM (1 week)
BaseCase - PLN= - Primary Analysis - Nov-12 1347 PM (1 week)
BaseCase - PLN= - Alternate W - Nov-12 1352 PM (1 week)
BaseCase - PLN= - Alternate W - Nov-12 1352 PM (1 week)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.

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