Thanks to the rising U.S. Bond yields, a number of major FX pairs have recently reversed their trends. The USD/CAD has so far resisted the U.S.

DAX recovered slowly from Feb 09 lows, but still in five waves, labeled as a leading diagonal.

Crude oil prices fell sharply after the publication of the latest oil inventories from the EIA earlier today.

At the time of this writing, the U.S. dollar was still down against most major currencies.

Although GBP/USD increased a bit recently, the resistance area created by the mid-October highs continues to keep gains in check. What’s next for the exchange rate?

On the daily chart of the U.S.