Back
23 Feb 2015
Bunds consolidation ending, next target 0.22% - RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, notes that bunds consolidation is about to end, as the market remains constructive for 0.22% target.
Key Quotes
“With the market remaining in a range of 158.20 – 159.50, our view remains the same – we are looking for another bullish swing in Bunds to occur after the current consolidation is completed with another push towards 160.00 on the table and potentially higher.”
“The yield chart suggests the current levels are close to a support area of 0.42/0.44%, which, I believe, will hold and limit any further corrections, as the yield also shows a potential bullish flag formation, which, once triggered may see a push towards 0.22%.”
“Only a sustained break above 0.44% would cancel the view.”
Key Quotes
“With the market remaining in a range of 158.20 – 159.50, our view remains the same – we are looking for another bullish swing in Bunds to occur after the current consolidation is completed with another push towards 160.00 on the table and potentially higher.”
“The yield chart suggests the current levels are close to a support area of 0.42/0.44%, which, I believe, will hold and limit any further corrections, as the yield also shows a potential bullish flag formation, which, once triggered may see a push towards 0.22%.”
“Only a sustained break above 0.44% would cancel the view.”