10yr Yield bullish setup.

26 Jan 2023

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.