30 Jul 2013
Flash: Bunds need rally towards 143.00 to confirm bullishness – RBS
FXstreet.com (New York) - Technical Strategist Dmytro Bondar at RBS analyses the short-term trend of Bunds.
Key quotes
“Bunds action this morning confirms 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.”
“The Friday’s close saw a sort of a morning star looming, although the closing level being too near the 142.47 pivot point, need a rally towards 143.00 to confirm.”
“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
“Bunds action this morning confirms 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.”
“The Friday’s close saw a sort of a morning star looming, although the closing level being too near the 142.47 pivot point, need a rally towards 143.00 to confirm.”
“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.”