AdrianRaymondFX

Head and Shoulders on the US 10-year Treasury note ?

INDEX:TNX   10-Year Treasury Note
tnx
134 1 3
tnx
The TNX             is currently testing its 200-DMA, which seems to be at the neckline of an inverse head and shoulders pattern. This is very interesting as market participants are waiting for the non-farm payrolls data on Friday. A daily close above the 200-DMA following the NFPs would suggest a reversal in interest rates for the weeks ahead (which people are already talking about anyways).
Really interesting, a change in longer term interest rates and break of your H&S could bring about significant FX volatility. The H&S is quite complex and not classical but still valid I think.
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