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Elliott Wave Analysis On 10Year US Notes And USDCAD

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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