29 Jan 2015
Bunds remains bullish to 0.22% - RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, views that Bunds remains bullish towards 0.22% after finding support at 0.44% post the minor correction.
Key Quotes
“As we expected, the minor correction found support at the 0.44% level (157.80 price level), as the market remained bullish. It is now heading to the 0.22% technical target (the full 200% Fibonacci retracement from May – Sep 2013 impulse wave) after ending its consolidation in the 0.44% - 0.57% range, as weekly MACD stays bullish.”
“On the price chart, after breaking the 159.09 resistance, the next target would stand at 159.98 and 160.68 (168.2% and 161.8% from last week’s extremes).”
Key Quotes
“As we expected, the minor correction found support at the 0.44% level (157.80 price level), as the market remained bullish. It is now heading to the 0.22% technical target (the full 200% Fibonacci retracement from May – Sep 2013 impulse wave) after ending its consolidation in the 0.44% - 0.57% range, as weekly MACD stays bullish.”
“On the price chart, after breaking the 159.09 resistance, the next target would stand at 159.98 and 160.68 (168.2% and 161.8% from last week’s extremes).”