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US 10yr ($ZN_F) Bull Trend Intact into FOMC

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US 10yr ($ZN_F) Bull Trend Intact into FOMC

We stated in our last report to our clients that "the roll back lower Monday leaves a consolidation bias for Tuesday and maybe into midweek and the FOMC" and we do anticipate an erratic digestion theme into Wednesday, pre-Fed.

However, whilst minimally above 128-185, we still see a bullish bias through late April into May from the strong rally from March and the mid-April rebound from above the key support at 128-055/025. 

For Today: We see a neutral tone between 129-185 and 128-225. 

Break above 129-185 aims through  129-23/255 for 129-31, which we would look to try to cap.

Break below 128-225 aims for 128-185/14, which we would look to try to hold.

Short/ Intermediate-term Outlook - Upside Risks:

We see a positive tone with the bullish threat back to the April/March 129-31/130-04 peaks.

Above targets the 130-175 cycle high.

Threat through here sees Fibo extension targets at 131-14 and 131-29.

What Changes This? Below 128-185 signals a neutral tone, only shifting negative below 128-025.

If you want to see more, you can view the full US 10yr future report with screencasts, levels and day trade views - click here
And remember, for a FREE trial of our Fixed Income/ Bond Futures and all other reports sign up by clicking here

2 Hour US 10yr Future Chart


Daily US 10yr Future Chart


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Steve Miley is The Market Chartist and has over two decades of financial market experience with him. He spent 2009-2012 as a Director of the FX Technical Analysis Research Strategy team at Credit Suisse and was previously at Merrill Lynch for 15 years; 10 years as a technical analyst, 5 years in Fixed Income sales.

He was 2013 winner of the Technical Analyst Magazine Award for Best Independent Fixed Income Research & Strategy, Runner Up for the same award in 2014 and was the winner of Best FX Research & Strategy 2012 (at Credit Suisse).

Steve is a Member of the Society of Technical Analysts (MSTA) and holds a Masters Degree in Politics, Philosophy & Economics from Lincoln College, Oxford University.

Steve has covered all major asset classes including Rates & Credit, G10 & EM currencies, Equity Indices & Sectors and Commodities and has strong relationships across the institutional financial trading spectrum, including Central Banks, Real Money accounts, Hedge Funds and other Global Corporates.



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