10Y US Notes is looking for a bigger recoveryJan 31, 2024

Treasury bond – 10Y US Notes came down a lot in the last two years but this cycle can now come to an end as we can see five waves down into 2023 lows on a weekly time frame. In fact, we also see five subwaves completed within wave (5) on a daily chart after prices recovered and a broke above the trendline resistance. The move is strong, thus we think that more upside can be coming within a three-wave (A)-(B)-(C) rally, where the first leg (A) can be still in progress or maybe already completed as an impulse. Support on subwave 4 or wave (B) dips are at 110-111.

So, if today FED will be more dovish than usually, then yields can drop further and this can pull dollar with it. No change from the FED or even any hawkish tone will keep dollar in recovery mode

If you are interested in more analysis like this, you may want to check below our latest recording of a live webinar streamed on January 29 CLICK HERE


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