Holding money bunched in fist by Iana Miroshnichenko via iStock

Ratio Chart Of U.S. Dollar Index Against 10Y U.S. Notes Is Pointing Much Lower

Gregor Horvat Wavetraders Wed Mar 5, 9:57AM CST
Holding money bunched in fist by Iana Miroshnichenko via iStock

10Y US Notes is in the recovery mode, while US yields are turning lower and that's why we see USdollar Index - DXY with a bearish price action and there's room for more weakness if we take a look at DXY/ZN Ratio Chart (USDollar Index against 10Y US Notes). 

As you can see below, DXY/ZN Ratio Chart is making a larger (A)(B)(C) zig-zag correction and after recent three-wave ABC corrective recovery in wave (B), it's now in free fall for wave (C) that can drop the price all the way back to 2023 lows, so USDollar and US yields could easily stay under bearish pressure, while 10Y US Notes can stay on the rise.

dxyznD
DXY/ZN Daily Ratio Chart
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