Steve Miley, MSTA
MarketChartist
US 10yr future upside risk to 126-195/245
The stronger Wednesday push above 125-175/18 only allowed for a prod above the cycle high at 125-235, but the anticipated better Thursday follow-through above here sets a still more bullish tone and with the overnight bullish extension leaves risk for further upside activity today and into mid-August.
The overnight move through the key 126-00 chart/ retrace target has already hit a next minor level at 126-08 on the way to 126-195/245 targets.
Overshoot risk is now to 127-07, with the secular high at 128-005!
WHAT CHANGES THIS?
Below 125-24/23 eases bull risks; through 125-03 signals a neutral tone, only shifting negative below 124-075.
4 Hour US 10yr Sept Future Chart
Daily US 10yr Future: Adjusted Continuation Chart
THERE IS SUBSTANTIAL RISK OF LOSS IN TRADING FUTURES, OPTIONS AND FX PRODUCTS. INFORMATION PROVIDED WITHIN THIS MATERIAL SHOULD NOT BE CONSTRUED AS ADVICE
Recommended Content
Editors’ Picks
EUR/USD holds above 1.0700 ahead of key US data
EUR/USD trades in a tight range above 1.0700 in the early European session on Friday. The US Dollar struggles to gather strength ahead of key PCE Price Index data, the Fed's preferred gauge of inflation, and helps the pair hold its ground.
USD/JPY stays above 156.00 after BoJ Governor Ueda's comments
USD/JPY holds above 156.00 after surging above this level with the initial reaction to the Bank of Japan's decision to leave the policy settings unchanged. BoJ Governor said weak Yen was not impacting prices but added that they will watch FX developments closely.
Gold price oscillates in a range as the focus remains glued to the US PCE Price Index
Gold price struggles to attract any meaningful buyers amid the emergence of fresh USD buying. Bets that the Fed will keep rates higher for longer amid sticky inflation help revive the USD demand.
Sei Price Prediction: SEI is in the zone of interest after a 10% leap
Sei price has been in recovery mode for almost ten days now, following a fall of almost 65% beginning in mid-March. While the SEI bulls continue to show strength, the uptrend could prove premature as massive bearish sentiment hovers above the altcoin’s price.
US core PCE inflation set to signal firm price pressures as markets delay Federal Reserve rate cut bets
The core PCE Price Index, which excludes volatile food and energy prices, is seen as the more influential measure of inflation in terms of Fed positioning. The index is forecast to rise 0.3% on a monthly basis in March, matching February’s increase.