13 Feb 2015
Bunds poised for resting 0.22% - RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, views bunds might see some weakness in the week ahead, but remains poised to test 0.22% levels later in a few weeks.
Key Quotes
“The market remained in a range after gaining support at the 158.20 futures level. My overall view though stays the same, looking for a push towards 160.00 and potentially higher.”
“Yield chart suggests the current levels are quite close to a strong resistance area of 0.42/0.44%, which I believe will hold and limit any dips.”
“I hold the same view that the market remains poised for testing 0.22%, however not in a straight line, but taking a few weeks to get there, as we need to see a lower low in yields (below 0.31%) to trigger the rally, as the weekly MACD chart remains bullish.”
“For the week ahead, I think the market will initially see some weakness: keeping testing the 5-week moving average and possibly even have a dip to the 0.42/0.44% support area. The latter is expected to hold and offer dip-buying levels for the 0.22% techncial target. Only a sustained break above 0.44% would cancel the view.”
Key Quotes
“The market remained in a range after gaining support at the 158.20 futures level. My overall view though stays the same, looking for a push towards 160.00 and potentially higher.”
“Yield chart suggests the current levels are quite close to a strong resistance area of 0.42/0.44%, which I believe will hold and limit any dips.”
“I hold the same view that the market remains poised for testing 0.22%, however not in a straight line, but taking a few weeks to get there, as we need to see a lower low in yields (below 0.31%) to trigger the rally, as the weekly MACD chart remains bullish.”
“For the week ahead, I think the market will initially see some weakness: keeping testing the 5-week moving average and possibly even have a dip to the 0.42/0.44% support area. The latter is expected to hold and offer dip-buying levels for the 0.22% techncial target. Only a sustained break above 0.44% would cancel the view.”