I last wrote about the 10YR T-Note, 10YR Rate, and the US Dollar (DX) here.
The following monthly comparison chart shows the price action of all three. The US Dollar, generally, trends in the same direction as the 10YR T-Note, but has seen much more volatile swings. The 10YR Rate has recently broken above a very long-term downtrend line and is threatening to break above 3%, a level last hit in January 2014.
There are four sets of Fibonacci retracement drawings depicted on the following monthly chart of the 10YR T-Note, as well as a very long-term uptrending channel.
Price has recently broken below the bottom of this channel and sits at/near major support at the convergence of various levels of three of these Fib retracements (two long term and one short term) around 120.00. Major resistance lies a short distance above at 121.59 to 122.70 ( two short term Fib levels and channel confluence).
We'll see if buyers step in to 10YR T-Notes and the US Dollar if the 10YR Rate spikes up to/through 3%.
Conversely, and as I mentioned in my above-referenced post, if DX fails to stabilize around 90.00, the next major support lies below around the 84.55 level. As well, the next major support level for the 10YR T-Note sits around 115.00 to 116.00 (confluence of three sets of Fib retracements levels...two long term and one short term).
Welcome and thank you for visiting!
The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.
DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.
* If the dots don't connect, gather more dots until they do...or, just follow the $$$...
UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Wed. May 25 @ 2:00 pm ET - FOMC Meeting Minutes
* Wed. June 1 @ 2:00 pm ET - Beige Book Report
* Fri. June 3 @ 8:30 am ET - Employment Data
* Wed. June 15 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. July 27 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Sept. 21 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Nov. 2 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Dec. 14 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
*** CLICK HERE for link to Economic Calendars for all upcoming events.