2.000% for US10Y?
A lot of you guys have been asking me what’s been happening with the U.S. Treasury Bonds and everybody is now talking about it and how it is directly affecting Gold prices.
This chart above is creating a very interesting formation.
As you can see on the Weekly Chart, US10Y finished 5 waves down and now we are waiting for it to finish Wave C from its ABC correction.
But the interesting part is that US10Y broke the 100% Fibonacci Extension and now it is heading towards the 161.8% level, but if you look closely you can see that the 161.8% is exactly the previous wave IV and you probably know by now how much the previous wave IV is considered a very critical level.
Thus, reaching the previous wave IV, will push the DXY for more upside possibly reaching the 93.5 area, and will also push GOLD for more downside towards the $1,670-$1,650 zone.
This chart above is creating a very interesting formation.
As you can see on the Weekly Chart, US10Y finished 5 waves down and now we are waiting for it to finish Wave C from its ABC correction.
But the interesting part is that US10Y broke the 100% Fibonacci Extension and now it is heading towards the 161.8% level, but if you look closely you can see that the 161.8% is exactly the previous wave IV and you probably know by now how much the previous wave IV is considered a very critical level.
Thus, reaching the previous wave IV, will push the DXY for more upside possibly reaching the 93.5 area, and will also push GOLD for more downside towards the $1,670-$1,650 zone.
Penafian
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