13 Feb 2014
Flash: Expect further USD10Y Yield gains - UOB Group
FXStreet (Barcelona) - Quek Ser Leang, Market Strategist at UOB Group expect further USD 10Y Yield gains, and feels that a break above 2.790 will shift the focus to 2.873.
Key Quotes
“In line with expectations, the break of the trend-line resistant led to a quick move towards the middle of the Daily Envelope (see Chart of the Day dated 7/2/14). Despite overbought short-term conditions, further gain is expected especially with Daily MACD moving strongly into positive territory.”
“A clear break above the immediate resistant at 2.790 will shift the focus to the next resistant at 2.873. Any short-term pullback is expected to stay above 2.700 but only a move below 2.664 will negate the bullish view. “
Key Quotes
“In line with expectations, the break of the trend-line resistant led to a quick move towards the middle of the Daily Envelope (see Chart of the Day dated 7/2/14). Despite overbought short-term conditions, further gain is expected especially with Daily MACD moving strongly into positive territory.”
“A clear break above the immediate resistant at 2.790 will shift the focus to the next resistant at 2.873. Any short-term pullback is expected to stay above 2.700 but only a move below 2.664 will negate the bullish view. “