31 Jul 2013
Flash: Bund bullishness hangs on rally – RBS
FXstreet.com (New York) - Technical Strategist Dmytro Bondar at RBS analyses the short-term trend of Bunds.
Key quotes
“Recent bund action confirmed there might be a bullish reversal taking place, as the market recovers above the 142.43 retracement and Treasuries chart shows an inverse H&S.”
“Although the closing level being too near the 142.47 pivot point, we need a rally towards 143.00 to confirm any definitive trend.”
“Unless the price gets back below 142.43 on a sustained basis, I would expect an initial rally to 143.15 and, if the latter is broken, retesting of 144.20/30 and then the main targets of 144.93/145.45 before a major reversal takes place in late August.”
Key quotes
“Recent bund action confirmed there might be a bullish reversal taking place, as the market recovers above the 142.43 retracement and Treasuries chart shows an inverse H&S.”
“Although the closing level being too near the 142.47 pivot point, we need a rally towards 143.00 to confirm any definitive trend.”
“Unless the price gets back below 142.43 on a sustained basis, I would expect an initial rally to 143.15 and, if the latter is broken, retesting of 144.20/30 and then the main targets of 144.93/145.45 before a major reversal takes place in late August.”