Everybody is Fed-Dependent

With 10 year US yields experiencing only a three-wave drop from a new high last week down to 4.5%, we should anticipate more gains here. This is likely to be positive for the Dollar, especially against the Jpy. Looking at the USDJPY hourly chart, we see a bullish impulse entering its late stages this week […]

The Canadian labour market report will be watched closely next Friday for further signs of deterioration in the country’s economic backdrop. We look for an increase of 15,000 workers after a small 2,000 drop in employment in March. But the unemployment rate will hold steady at 6.1%—its highest level since January 2022 and up from […]

EURUSD reversed from support level 1.1030 Likely to rise to resistance level 1.1200 EURUSD recently reversed up from the support level 1.1030 (former resistance from August, acting as the support after it was broken by the previous impulse wave iii). The upward reversal from the support level 1.1030 created the daily Japanese candlesticks reversal pattern […]