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2026-01-09 17:22:56
[Eurozone Government Bond Technical Pattern Clearly Indicates Further Downside for 30-Year Yields, But Medium- to Long-Term Outlook Remains Bearish] ⑴ Technical analysis shows that the Eurozone 30-year government bond yield still has approximately 10.5 basis points of downside potential before reaching the double-top pattern target of 3.36%. ⑵ This double-top pattern is formed by the highs of December 22nd last year and January 5th this year, and was confirmed after breaking below the reversion trendline on Wednesday (January 7th). ⑶ Although the short-term technical pattern suggests that yields may decline further, from a medium- to long-term perspective, based on the previously discussed fundamental and technical reasons, the overall outlook remains bearish. ⑷ The market will need to pay close attention to whether the yield can reach the 3.36% technical target, and whether this will subsequently validate the medium- to long-term bearish assessment. This will be a crucial point to observe in the market.
