Chart of the Day – 10yr Yields – (January 26th, 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.

Our “Chart of the Day” feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, click here to learn more. Trade our money, take 75% of the gains and none of the risk.