Treasury yields are rising with the spread between the 10’s and 2’s also rising. That continues the recent short-term trend. The longer this keeps up the closer we’d get to being able to declare a new trend and… a new macro backdrop.
The Investing.com graphic also includes the 10 year Treasury Note and some Euro/UK bonds. The bonds are down as yields are up across the pond as well.
Uncle Buck has bounced to the underside of the former 94 +/- support, now short-term resistance. There is notable support around 90 and 92 at the 38% and 50% Fib retrace levels as noted previously.
Though I think USD can decline further to those levels, I am neutral on dear old Unc right now and bullish on the big picture; which must mean I am bearish on the Euro’s big picture after being fully prepared for the current Euro rally: Euro Bullish
Subscribe to NFTRH Premium for your 25-35 page weekly report, interim updates (including Key ETF charts) and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow @BiiwiiNFTRH.