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5 Feb 2015
Bunds correction to be limited till 0.40% - RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, views bunds correction to limit to 0.40% before the bullish swing begins again.
Key Quotes
“The market remains constructive despite a minor correction from the 0.31% resistance level, which was in line with our expectations.”
“The yield has already reached a strong support area formed by the 5-week MA and Fibonacci retracement of 0.44%.”
“I believe the 0.40% support would hold the yield and see another bullish swing targeting 0.22% overall (the full 200% Fibonacci retracement from May – Sep 2013 impulse wave), as discussed in the previous publications.”
Key Quotes
“The market remains constructive despite a minor correction from the 0.31% resistance level, which was in line with our expectations.”
“The yield has already reached a strong support area formed by the 5-week MA and Fibonacci retracement of 0.44%.”
“I believe the 0.40% support would hold the yield and see another bullish swing targeting 0.22% overall (the full 200% Fibonacci retracement from May – Sep 2013 impulse wave), as discussed in the previous publications.”