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12 Feb 2013
Forex Flash: Bunds eye 200-day MA – RBS
The Bund market sustained itself in a range after seeing a gradual recovery and closing the 142.50 bearish gap from 25 January. According to Technical Markets Strategist Dmytro Bondar at RBS, “The move signaled further recovery to 143.20/30 (200-day MA) onto 143.70. Further upside will be likely this week after a minor correction from 200-day MA takes place.”
As such, “momentum is turning positive, as the 20/5/5/3 slow stochastic has left the oversold region after forming a positive crossover. Therefore, a move higher towards the 143.70 and 144.00 onto possibly 144.56/60 would be expected on a caveat of a sustained break below 142.00.” Bondar adds.
As such, “momentum is turning positive, as the 20/5/5/3 slow stochastic has left the oversold region after forming a positive crossover. Therefore, a move higher towards the 143.70 and 144.00 onto possibly 144.56/60 would be expected on a caveat of a sustained break below 142.00.” Bondar adds.