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2 Apr 2015
Bunds: Upswing developing, target 159.53 – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, views that Bunds might trade choppy until 159.11 is cleared, with the bullish target being 159.53 and 160.04.
Key Quotes
“The price started to develop an upswing and broke the 159.11 resistance, confirming our constructive view on the market, which formed a local base at 158.00/18 and saw a typical Harami Cross pattern (an inside session, which has the open level equal to close). The latter confirmed 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.”
Key Quotes
“The price started to develop an upswing and broke the 159.11 resistance, confirming our constructive view on the market, which formed a local base at 158.00/18 and saw a typical Harami Cross pattern (an inside session, which has the open level equal to close). The latter confirmed 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.”