Chart of the Day: U.S. 10-Year Yields About to Head Higher?
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One of the traders in the Forex Analytix community (Grasshopper) pointed out that the United States 10-Year Yields are developing an inverted head and shoulder pattern, which may lead (on a breakout) to higher yields in the near term.
Considering a false breakdown happened last week on Jan.19 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 3.80 in the coming weeks.
A rise in yields could be a warning sign for US Dollar bears too.
US10Y Daily Chart
