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Bitcoin, EUR/USD and Copper Forecast: Yields Cool, Breakouts Loom

By: 
Christopher Lewis

U.S. yields cool as EUR/USD eyes 1.15, Bitcoin holds above key support and copper approaches a potential breakout above $6.90 toward $7.

The US Two-Year Yield Is Starting to Drop a Bit

Daily candlestick chart of the US 2-Year Treasury Yield (US02Y) pulling back to 4.726% above the 50-day EMA at 4.372% and 200-day EMA at 4.047%.
Daily yield chart of the US 2-Year Treasury showing yields easing to 4.726% during early Tuesday trading. Source: TradingView

The U.S. 2-year yield is starting to drop a bit early in Tuesday’s trading session. That being said, I think this is simply a matter of the market being a little stretched. That could lead to a little bit of U.S. dollar weakness and a little bit of risk appetite out there, so we’ll have to wait and see how this plays out.