Short term Elliottwave structure suggests that cycle from 3/16 peak, i.e. 2.00, has ended with wave W at 1.518. Rally from there is unfolding as a double three where wave (w) ended at 1.62 and wave (x) pullback ended at 1.604. Near term focus is on 1.706 – 1.73 area to complete wave (y) of ((w)) and end cycle from 6/16 low, then the yields should pullback in wave ((x)) before turning higher one more time in wave ((y)) of X.
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