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30 Mar 2015
Bunds might see a further swing towards 160.88 – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Strategist at RBS, remains bullish on the 10-yr German Bunds, expecting a move towards 159.53, 160.04 and possibly 160.88.
Key Quotes
“The market is deemed to have formed a local base, as it found support at 158.00/18 and saw a typical Haraim Cross pattern (an inside session, which has the open level equal to close), confirming our view for more upside towards 0.13% amid bullish flag triggered and 0.22% resistance broken.”
“Given a previously formed Methods continuation pattern on the futures chart (over the period of 10-18 March), I believe that the price will remain above the 20-day MA and see a further swing to 159.53, 160.04 and possibly 160.88.”
“The long-term MACD oscillator remains constructive, but starts to form a divergence, which leaves us bullish on the market towards 0.13% for the time being, but further upside being under question due to the MACD looming divergence.”
Key Quotes
“The market is deemed to have formed a local base, as it found support at 158.00/18 and saw a typical Haraim Cross pattern (an inside session, which has the open level equal to close), confirming our view for more upside towards 0.13% amid bullish flag triggered and 0.22% resistance broken.”
“Given a previously formed Methods continuation pattern on the futures chart (over the period of 10-18 March), I believe that the price will remain above the 20-day MA and see a further swing to 159.53, 160.04 and possibly 160.88.”
“The long-term MACD oscillator remains constructive, but starts to form a divergence, which leaves us bullish on the market towards 0.13% for the time being, but further upside being under question due to the MACD looming divergence.”