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1 Apr 2015
Bunds might consolidate before resuming towards 159.53 and 160.04 – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, maintains the bullish view on bunds, anticipating a move towards 159.53 and 160.04 post some consolidation.
Key Quotes
“With little progress over the past few days, we remain constructive the market, which formed a local base after getting support at 158.00/18 and seeing 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
“With little progress over the past few days, we remain constructive the market, which formed a local base after getting support at 158.00/18 and seeing 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.”