Chart of the Day – 10yr Note Futures – (September 13th, 2023)

<div><p><div><h2 itemprop="headline">Key reversal day in the bond market!</h2><div><div></div></div></div><br />
<section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>The 10yr notes market made a big reversal today following the CPI data. And this move could continue following the US retail sales tomorrow as economists are expecting a downtick in US consumer spending. We are far from a reversal, but given the big &#8220;outside day&#8221; bullish reversal candle near key long term support near the 109&#8217;00 level, we could see a much bigger reversal unfold in the market.</p>
<p>Two days ago, the <a href="https://www.forexanalytix.com/blog/chart-of-the-day-sept-11th-2023/">chart of the day</a> was the USDCNH and the correlation of yields in the 10/30yr markets. If the above holds true, we could see a reversal lower in the USDCNH and perhaps the broad US Dollar market as well.</p>
<p>To be extra sure that a key reversal is developing, we would be looking for a move back above the 50dma which capped the rally on Friday, September 1st.</p>
<p><img decoding="async" fetchpriority="high" class="alignnone size-full wp-image-10745" src="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/ZN1_2023-09-13_13-10-10.png" alt="" width="1502" height="839" srcset="https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/ZN1_2023-09-13_13-10-10.png 1502w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/ZN1_2023-09-13_13-10-10-400×223.png 400w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/ZN1_2023-09-13_13-10-10-800×447.png 800w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/ZN1_2023-09-13_13-10-10-768×429.png 768w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/ZN1_2023-09-13_13-10-10-1500×838.png 1500w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/ZN1_2023-09-13_13-10-10-705×394.png 705w, https://www.forexanalytix.com/blog/wp-content/uploads/2023/09/ZN1_2023-09-13_13-10-10-450×251.png 450w" sizes="(max-width: 1502px) 100vw, 1502px" /></p>
<p>Blake Morrow</p>
<p>Our <a href="https://www.forexanalytix.com/blog/category/technical-analysis/chart-of-the-day/">&#8220;Chart of the Day&#8221;</a> feature highlights standout technical analysis patterns and price moves. This type of analysis could be helpful if you are interested in our Trader Funding Program where you can also join an elite group of traders at Forex Analytix, <a href="https://traderfundingprogram.com/?ref=blake">click here to learn more</a>. Trade our money, take 75% of the gains and none of the risk.</p>
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</div></section></p></div><section itemscope="itemscope" itemtype="https://schema.org/BlogPosting" itemprop="blogPost"><div itemprop="text"><p>Steve Voulgaridis</p>
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