Elliott Wave Analysis: 10Year US Notes Undergoing A Reversal

Gregor Horvat Wavetraders

10Year US Notes are falling sharply, now already beneath the lower corrective channel line which usually signals a reversal. That said we now expect a five wave drop to follow within the current wave 1), and later a new three wave rally into corrective wave 2). The ideal resistance zone for the upcoming wave 2) may later then be around the 126.28 level, where bear may again take lower. That said, if 10 year US notes will continue to fall, we can expect USDJPY to stay in uptrend, and stocks as well.

10 Year US Notes, 4H

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Author

Gregor Horvat

Wavetraders

Experience Grega is based in Slovenia and has been in the Forex market since 2003.

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