10Y US Yields are coming down, and US treasuries moving higher about we have been warning in our several updates this year. Here is one from May of this year
Now the question is how much room have 10Y US Notes in this recovery?
After FED dovish speculations and lower inflation, the 10Y US Treasury Notes are in a recovery mode, and are making a higher degree corrective rally on a daily chart after prices recovered sharply and impulsively up to 114’00, which confirms a change in trend. It’s actually moving nicely as expected within a three-wave A-B-C rally from 2023 low, with subwave C now in full progress by five subwaves. So there can be room even up to 116 – 118 area or higher after current potential break out of a blue subwave four setback.
For better understanding of Elliott wave structure and fractals, we are looking at the basic Elliott wave pattern, which shows that 10Y US Notes are in the middle of wave (C) of a three-wave recovery, so likely more upside is coming. It means that dollar can stay under bearish pressure then.
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