Chart of the Day - 10yr Yields

Blake Morrow Forex Analytix

One of the traders in the Forex Analytix community (Grasshopper) pointed out that the 10yr Yields are developing an inverted head and shoulder pattern which may lead (on a breakout) to higher yields near term. Considering a false breakdown happened last week on January 19th below horizontal support, this builds the case that was the head. A break of the neckline at 3.53% could lead to a rise towards the 3.80 in the coming weeks. A rise in yields could be a warning sign for US Dollar bears too.

Author

Blake Morrow

Forex Analytix

Blake Morrow spent most of his professional career as the Chief Currency Strategist for Wizetrade group for 15 years, and then the Senior Currency Strategist for Ally Financial after the acquisition of Tradeking which owned the Wizetrade Group.

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