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13 Apr 2015
Bunds remains constructive for 160.04 – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, expects Bund futures to see a correction before heading higher towards 160.04 levels.
Key Quotes
“The market approaches our key target area of 0.13% and price target of 159.53, as the futures chart indicates there may be a correction from here, as momentum starts to fade. This however does not alter the overall constructive view as long as the market remains above the 20-day MA.”
“Given a previously-formed Methods continuation pattern on the futures chart (over the period of 10-18 March), I believe that the price will see a further swing to 160.04 and possibly 160.88 after a correction (to most likely the 158.70 support) is completed.”
Key Quotes
“The market approaches our key target area of 0.13% and price target of 159.53, as the futures chart indicates there may be a correction from here, as momentum starts to fade. This however does not alter the overall constructive view as long as the market remains above the 20-day MA.”
“Given a previously-formed Methods continuation pattern on the futures chart (over the period of 10-18 March), I believe that the price will see a further swing to 160.04 and possibly 160.88 after a correction (to most likely the 158.70 support) is completed.”