An overview of the
currency markets by 
Hello everyone!
We hope everyone that celebrated Cinco de Mayo has recovered from last night and are ready to trade.
Looking at the CAD/JPY 5 minute chart, we had a strong movement down and am currently in a potential 3 wave correction.
Judging by the looks of the very recent impulsive move upwards is that we’re potentially forming a short term Ending Diagonal (ED). You’ll need to examine the shorter term charts (1 and 3 minute charts) to help break down a potential turning point.
Our timing indicates the upward movement could potentially go on throughout the European session. Look for a breakout near the end of the European/opening of the US session.
Good luck - be sure to use your money management and utilize your stops.
We’re also gearing up for the NFP this Friday so we’ll see you all again soon.