Gafnn.com Daily Analysis
An insider's look at the current markets
US 10-Years Note Under Microscope
Over daily basis we can see how the downside correction started from the recorded top at 128.00 and found good support at the last 76.4% correction around 118.00.
We can see trading currently sideways among 76.4% and 50% correction shadowed in yellow above.
The stability of 76.4% areas shows the possibility for a bullish technical pattern with the neckline at 121.40.
This proposed pattern alongside the strength of the mentioned correction supports the likelihood for the notes to resume the general upside move which stopped for the mentioned correction.
The SMA 50 supports the upside move towards the neckline while momentum indicators are in overbought areas restricting the move to completing the bullish pattern.
In general, we expect a short term upside move targeting 121.40 then extend towards 124.90, the full target for the pattern.
Breaching the support areas among 119.85-45 will drive the notes again towards 76.4% correction.
Georgia Anderson` Financial News Network, trader, trader education, online forex, daytrader,forex currency, forex software, investors, forex trading, forex
 |
We can see trading currently sideways among 76.4% and 50% correction shadowed in yellow above.
The stability of 76.4% areas shows the possibility for a bullish technical pattern with the neckline at 121.40.
This proposed pattern alongside the strength of the mentioned correction supports the likelihood for the notes to resume the general upside move which stopped for the mentioned correction.
The SMA 50 supports the upside move towards the neckline while momentum indicators are in overbought areas restricting the move to completing the bullish pattern.
In general, we expect a short term upside move targeting 121.40 then extend towards 124.90, the full target for the pattern.
Breaching the support areas among 119.85-45 will drive the notes again towards 76.4% correction.
Georgia Anderson` Financial News Network, trader, trader education, online forex, daytrader,forex currency, forex software, investors, forex trading, forex
Tags: Array
Trackback URL for this blog entry.
Comments
-
Please login first in order for you to submit comments
GAFNN Blog Categories
Disclaimer
There is substantial risk of loss in trading commodity futures, options and off-exchange foreign currency products. Each investor must consider whether this is a suitable investment.
Trades or trade recommendations made on this site have not been made by Georgia Anderson.
Trades or trade recommendations made on this site have not been made by Georgia Anderson.
Online Users
1 user
and 557 guests
online
Follow GAFNN
