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16 Mar 2015
Bunds: more upside towards 0.13% expected – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, views that Bunds has upside potential towards 0.13%.
Key Quotes
“The market reached my key 5/20-week MA and 12/26/9 MACD target of 0.22% after consolidating in a range for a few weeks and triggering a bullish flag.”
“The level was broken, implying that after a minor correction there is a good chance of reaching the 0.13% target before a major reversal may begin. The latter is attributed to long-term MACD oscillators, which, despite being still constructive, has already started to turn. So far it did not display any divergence, which leaves us bullish the market for the time being.”
“On the price chart, there is good support at 157.65 and 157.34, which may limit a pullback, as a further bullish swing to 159.53 resistance onto 160.04 and possibly 160.88 can be expected.”
“Strategy: 0.22% target reached, after a minor correction, 0.13% attracts”
Key Quotes
“The market reached my key 5/20-week MA and 12/26/9 MACD target of 0.22% after consolidating in a range for a few weeks and triggering a bullish flag.”
“The level was broken, implying that after a minor correction there is a good chance of reaching the 0.13% target before a major reversal may begin. The latter is attributed to long-term MACD oscillators, which, despite being still constructive, has already started to turn. So far it did not display any divergence, which leaves us bullish the market for the time being.”
“On the price chart, there is good support at 157.65 and 157.34, which may limit a pullback, as a further bullish swing to 159.53 resistance onto 160.04 and possibly 160.88 can be expected.”
“Strategy: 0.22% target reached, after a minor correction, 0.13% attracts”