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12 Mar 2015
Bunds: more upside to 0.13% expected - RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, gives the technical outlook and key levels for 10-yr German bunds.
Key Quotes
“The market reached my key 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 pause in trend, there will be a good chance of reaching the 0.13% target before a major bearish reversal kicks in. The latter is attributed to the 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 a good support at 157.65 and 157.34, which should limit a pull-back, as a further bullish swing to 159.53 resistance onto 160.04 and possibly 160.88 would be expected.”
“SUP: 158.18 157.65 157.34”
“RES: 158.69 159.11 159.53”
Key Quotes
“The market reached my key 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 pause in trend, there will be a good chance of reaching the 0.13% target before a major bearish reversal kicks in. The latter is attributed to the 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 a good support at 157.65 and 157.34, which should limit a pull-back, as a further bullish swing to 159.53 resistance onto 160.04 and possibly 160.88 would be expected.”
“SUP: 158.18 157.65 157.34”
“RES: 158.69 159.11 159.53”