Update: Excuse me for the broken chart, here is the correct support level
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The spike in yields in my view has been over stretched, and could turn around very soon. The markets may be over-reacting to the idea of euro area exiting deflationary environment and more optimistic about inflation going back higher as economy grows. However as the ECB continues to conduct its QE program, yields will probably hold near current levels and retreat back lower with time.. This might be a great opportunity to long the pullback in European equities and short the EURUSD and EURGBP.
Good luck
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My best regards
Technician
The spike in yields in my view has been over stretched, and could turn around very soon. The markets may be over-reacting to the idea of euro area exiting deflationary environment and more optimistic about inflation going back higher as economy grows. However as the ECB continues to conduct its QE program, yields will probably hold near current levels and retreat back lower with time.. This might be a great opportunity to long the pullback in European equities and short the EURUSD and EURGBP.
Good luck
Exclusively Subscribers to my mailing list will get one month access to my trading account . Subscribe here thefxchannel.com/ ,
My best regards
Technician