US10Y

US 10 year bond yield is on the lowsif yields break the lows USD should weaken furtherALL FX pairs vs USD are overbought GOLD is overbought as wellbut until YIELDS start rising USD will keep on bleeding

See the similarity between 2 charts: US 10 year bond yields and US Dollar index DXY #forex

As you can see all of USD strength move is in line w US 10 year bond yield, and as FED will keep on raising this correlation has no reason to break any time soon > more hikes > more USD strength to come.

This weeks price action in bonds will determine do we get a double top or a breakout that will further drive USD weakness or strength thus RISK ON or RISK OFF

10yr yield posting a head and shoulders pattern pointing to the fact yields will be dropping for a little more while thus prompting more selloff in USD and more RISK ON bids overall in SP500 NAS100 US30 and GOLD.