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OUTLOOK: Price Signal Summary - Bund Bull Cycle Remains In Play

OUTLOOK
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, Bund futures remain in a bull cycle and the contract has traded higher today. Price has recently cleared resistance at 132.22, the Jan 22 high, and is through both the 20- and 50-day EMAs. The break higher confirms a resumption of the corrective bull cycle that started Jan 14. This signals scope for an extension towards 133.73, 50.0% of the Dec 2 - Jan 14 bear leg. Firm short-term support has been defined at 131.00, the Jan 16 / 24 low. First support is at 132.23, the 20-day EMA.
  • A bullish corrective phase in Gilt futures remains in play, signalling scope for a continuation higher near-term. Last week’s high print and Monday’s climb, reinforce current conditions. The contract has traded through 93.09, the Dec 20 high. Sights are on 93.64, 61.8% of the Dec 3 - Jan 13 bear leg. First support is 92.17, the 20-day EMA.
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  • In the FI space, Bund futures remain in a bull cycle and the contract has traded higher today. Price has recently cleared resistance at 132.22, the Jan 22 high, and is through both the 20- and 50-day EMAs. The break higher confirms a resumption of the corrective bull cycle that started Jan 14. This signals scope for an extension towards 133.73, 50.0% of the Dec 2 - Jan 14 bear leg. Firm short-term support has been defined at 131.00, the Jan 16 / 24 low. First support is at 132.23, the 20-day EMA.
  • A bullish corrective phase in Gilt futures remains in play, signalling scope for a continuation higher near-term. Last week’s high print and Monday’s climb, reinforce current conditions. The contract has traded through 93.09, the Dec 20 high. Sights are on 93.64, 61.8% of the Dec 3 - Jan 13 bear leg. First support is 92.17, the 20-day EMA.