Market has not changed much since yesterday when USD extended its gains from Friday when jobs data came out very strong as speculators think there are fewer chances for FED rates cuts in March. We see US yeilds keep moving higher, but all in context of a corrective, temporary recovery which can stop at the resistance this week. Ideally, dollar is then also close to its reversal point, here around 104.00/104.50. From an Elliott wave perspective we still would not be surprised to see a turn down as recovery since start of the year is overlapping, ideally w-x-y now in late stages. But we still need some catalyst for a turn back to bearish mode. Drop below 102.72 will be bearish.

I talked about this and a lot more in our video below

(Click on image to enlarge)

Video Length: 00:30:27

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