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Treasury Bonds Test Minor Retracement Zone

Discussion in 'Forex Daily News & Outlook' started by futuretrends24, Sep 5, 2010.

  1. futuretrends24

    futuretrends24 New Member

    Apr 30, 2009
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    Today’s sample of Futures Analysis from FuturesHound.com

    December Treasury Bonds broke on Friday as investors shed safer assets in favor of higher-yielding risky assets. The main trend remained up on the daily chart while the market completed a 50% retracement of the 124’22 to 135’19 range. The first target was 130’17. The market tested 130’12.

    Fundamentally, the jobs report drove down T-Bonds, but the weaker ISM Services report helped drive them higher off the low, setting up a possible retracement to the upside next week. If T-Bonds set up a secondary lower top, then look for another break to the downside with 129’11 the next likely target.

    Once again this current move looks like a normal correction and not “the bubble bursting” as some analysts want to believe.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

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