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Bunds to see a correction – RBS

FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, sees a correction in Bunds at the 152.47 resistance, anticipating a pull-back towards 152.00 level.

Key Quotes

“The market tested moved towards my target of 152.47, but indicated there would most likely to be a correction from here amid stochastics divergence and failure to break the resistance level on the first attempt.”

“Therefore, I favour taking profits on our long trade at the current levels (152.34) and looking for a pull-back to 152.00 onto 151.50/60 to reload longs. Caveat would be a sustained break below 151.40.”

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