26 Mar 2015
Bunds might see a further swing towards 159.53 – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, notes that the Harami Cross above support confirms a bullish swing beyond 159.11 towards 159.53 and even 160.88.
Key Quotes
“The market formed a typical Harami Cross yesterday (an inside session, which has the open level equal to close), as it sustained above the 158.18 support and 20-day MA.”
“Given a previously-formed Methods continuation pattern (over 10- 18 March), I believe the price will remain above the 20-day MA and see a further swing to 159.53, 160.04 and possibly 160.88.”
“Our yield target remains at 0.13% amid a bullish flag.”
“Of note, it looks like Bunds may de-couple from Treasuries once again, as the latter sees bearish reversal signals.”
“Strategy: 0.22% target reached, 0.13% attracts, as correction nears end”
Key Quotes
“The market formed a typical Harami Cross yesterday (an inside session, which has the open level equal to close), as it sustained above the 158.18 support and 20-day MA.”
“Given a previously-formed Methods continuation pattern (over 10- 18 March), I believe the price will remain above the 20-day MA and see a further swing to 159.53, 160.04 and possibly 160.88.”
“Our yield target remains at 0.13% amid a bullish flag.”
“Of note, it looks like Bunds may de-couple from Treasuries once again, as the latter sees bearish reversal signals.”
“Strategy: 0.22% target reached, 0.13% attracts, as correction nears end”