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28 Jan 2015
Bunds on its way to 0.22% - RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, views that Bunds are heading towards 0.22% and any near-term correction might see support at 0.44%.
Key Quotes
“The market is heading to the 0.22% technical target after ending its consolidation in the 0.44% - 0.57% range, as weekly MACD stays bullish.”
“A near-term correction would be expected to see support at the 0.44% polarity level.”
“The target level of 0.22% is the full 200% Fibonacci retracement from May – Sep 2013 impulse wave.”
“On the price chart, we have support at 157.80 and 157.45. After breaking the 159.09 resistance, the next target would stand at 159.98 and 160.68 (168.2% and 161.8% from last week’s extremes).”
Key Quotes
“The market is heading to the 0.22% technical target after ending its consolidation in the 0.44% - 0.57% range, as weekly MACD stays bullish.”
“A near-term correction would be expected to see support at the 0.44% polarity level.”
“The target level of 0.22% is the full 200% Fibonacci retracement from May – Sep 2013 impulse wave.”
“On the price chart, we have support at 157.80 and 157.45. After breaking the 159.09 resistance, the next target would stand at 159.98 and 160.68 (168.2% and 161.8% from last week’s extremes).”