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Copper, EUR/USD and DAX Forecast: Key Breakouts in Focus

Copper, EUR/USD and DAX Forecast: Key Breakouts in Focus

By: 
Christopher Lewis

Copper eyes a $7 breakout as EUR/USD tests 1.15 resistance and the DAX rallies toward its 50-day EMA, with 26,000 emerging as a potential target.

US2Y Technical Analysis

Daily candlestick chart of the US 2-Year Treasury Yield (US02Y) easing to 4.731% above the 50-day EMA at 4.357% and 200-day EMA at 4.040%.
Daily yield chart of the US 2-Year Treasury showing yields consolidating around 4.731% after an extended surge. Source: TradingView

The 2-year yield is the first place I’m looking during the trading session here on Monday, as it gapped higher and then dropped a bit. We’ll have to watch this 2-year yield. It’s extraordinarily elevated, and that still provides a lot of pressure on certain markets.