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OUTLOOK: Price Signal Summary - Bear Cycle In Bunds Still In Play

OUTLOOK
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, the current cycle Bund futures remains in play and Friday’s extension signals scope for a continuation of the bear leg. Price is trading at its recent lows and sights are on 133.98, 61.8% retracement of the Nov 6 - Dec 2 bull cycle. A break of this level would strengthen the current downleg. For bulls, a reversal higher would highlight the end of the correction. First key resistance is 136.01, the Dec 12 high.
  • Gilt futures traded sharply lower last week, resulting in a move through support at 95.49, the Dec 4 low, and 95.17, the Nov 28 low. A continuation down would expose key support at 93.40, the Nov 18 low. A breach of this support would strengthen the bearish development and highlight a reversal. Initial resistance is at 95.16, the 20-day EMA.
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  • In the FI space, the current cycle Bund futures remains in play and Friday’s extension signals scope for a continuation of the bear leg. Price is trading at its recent lows and sights are on 133.98, 61.8% retracement of the Nov 6 - Dec 2 bull cycle. A break of this level would strengthen the current downleg. For bulls, a reversal higher would highlight the end of the correction. First key resistance is 136.01, the Dec 12 high.
  • Gilt futures traded sharply lower last week, resulting in a move through support at 95.49, the Dec 4 low, and 95.17, the Nov 28 low. A continuation down would expose key support at 93.40, the Nov 18 low. A breach of this support would strengthen the bearish development and highlight a reversal. Initial resistance is at 95.16, the 20-day EMA.