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5 Feb 2015
US 10yr treasuries forming a base amid inverted Head and Shoulders – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, shares the technical outlook for US 10yr treasuries.
Key Quotes
“The market is deemed to be forming a base in the 1.61% - 1.78% area, which was formed by 138.2% Fibonacci retracements from the 2010- 2011 impulse wave.”
“This comes in line with our forecast of yield struggling to break lower amid inverted Head and Shoulders pattern on the yield chart (formed in 2012) making the area of 1.61% - 1.78% technically the sell region.”
“Overall, I hold the view that yield would form a base here.”
“A break below 1.61% cancels the view.”
Key Quotes
“The market is deemed to be forming a base in the 1.61% - 1.78% area, which was formed by 138.2% Fibonacci retracements from the 2010- 2011 impulse wave.”
“This comes in line with our forecast of yield struggling to break lower amid inverted Head and Shoulders pattern on the yield chart (formed in 2012) making the area of 1.61% - 1.78% technically the sell region.”
“Overall, I hold the view that yield would form a base here.”
“A break below 1.61% cancels the view.”