Presume this move (at 3.69% now) has much to do with positive growth expectations so correlated to long USD trade already on board.- Monthly : Trading well into recent long tail territory (=previous low volume areas), as opposed to candlesticks' bodies (= high volume areas). This vacuum-filling represents a real attempt at breaking out to higher yields.
- Weekly : Taken out topside resistance. An uneven double bottom at 3.11%/3.15%, NL 3.58% also broken out of. Higher US10YY to 4.00% possible.
- Daily : Huge white candle last night = significant price action not to be dismissed lightly.
US 2s/10s making new highs at 281. No idea where it will top out. Assume it will steepen further = more upwards pressure on US10YY.- Above +300 is a distinct possibility.
2 comments:
Since my broker doesn't allow me to trade the 10YY, I"m trying to play the increase in yield by going short the yen. Unfortunately I was busy with a client and missed the push above 91.
Seasons Greetings to you and all the best in the New Year. I would like to thank you for assistance and input over the year(s). Your tit-bits were invaluable to my development.
BH
Best of luck and thank you.
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