Elliott Wave Analysis On 10Year US Notes And USDCAD

By: Gregor Horvat | Wed, Oct 5, 2016
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10Year US Notes

USD is on bullish side at the moment against some major currencies after US ISM Non-Manufacturing PMI for Sep came out at 57.1 vs 51.4. 10 year US notes are trading down and now even lower following data. We see 10 year in extended wave three now, testing 161.8% Fib level where market may look for some support, but only temporary for a bounce up into wave 4 that can show up ahead of Friday's NFP.

10 Year US Notes, 1H

US 10-Year Notes 1-Hour Chart


USDCAD

USDCAD is not moving much for the last few days, but we cannot ingore the fact that market made three waves down from 1.3282 to 1.3047 low, which is a corrective move. It's zigzag that is pointing back to the highs, maybe into final wave 5) as part of an ending diagonal.

USDCAD, 1H

USD/CAD 1-Hour Chart

 


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Gregor Horvat

Author: Gregor Horvat

Gregor Horvat
www.ew-forecast.com

Gregor Horvat

Grega is based in Slovenia and has been involved in markets since 2003. He is the owner of www.ew-forecast.com, but before that he was working for Capital Forex Group and TheLFB.com. His feature articles have been published on: SafeHaven.com, FXstreet.com, Thestreet.com, Action forex, Forex TV, Istockanalyst, ForexFactory, Fxtraders.eu, Insidefutures.com, etc. He recently won the award on FXStreet.com for Best Forex Analysis in 2016. At www.ew-forecast.com he helps clients and educate them about the Elliott wave prinicple and how to label and track unfolding patterns in real time.  His approach to the markets is mainly technical. He uses a lot of different methods when analyzing the markets such as candlestick patterns, MA, technical indicators etc. His specialty however is Elliott Wave Theory which could be very helpful especially if you know how to use it in combination with other tools/indicators.

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