11 Jun 2015
Bunds: further downside to 1.20% likely – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, expects Bunds to head towards 1.20% as the bullish correction ends.
Key Quotes
“The market posted a new price low, indicating the bullish correction is already completed and further downside to 1.20% is expected, which is the full swing extension from the Apr-May impulse wave.”
“The key support area of 0.94% - 1.00% is now broken, leaving no significant obstacles on the way to 1.20%. The latter is a strong support level, where a few Fibonacci retracements coincide, making this a particularly significant milestone.”
Key Quotes
“The market posted a new price low, indicating the bullish correction is already completed and further downside to 1.20% is expected, which is the full swing extension from the Apr-May impulse wave.”
“The key support area of 0.94% - 1.00% is now broken, leaving no significant obstacles on the way to 1.20%. The latter is a strong support level, where a few Fibonacci retracements coincide, making this a particularly significant milestone.”