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Flash: Bunds meet H&S target, bullish outlook – RBS

FXstreet.com (Barcelona) - Following last weeks Bund performance, the 143.54 head and shoulders target has been reached.

According to Technical Strategist Dmytro Bondar at RBS, “We took profit and went long amid deeply overbought oscillators and a bullish opening gap last Wednesday followed by a series of higher highs and higher lows, indicating the formation of a corrective bounce.”

Moreover,” There are also strong support levels at 143.28/20 and 143.00. Therefore, favor buying at 143.30/40 to 144.68 onto 145.11 stopping through 143.00. In the long term, as the 145.11 region is reached, I would favor selling amid cross-market signals from the treasury market – the risk level is 146.22.” he adds.

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