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Price Signal Summary - Bunds Trade Through The 20-Day EMA

OUTLOOK
  • In the FI space, a strong bounce in Bund futures has resulted in a break of resistance at the 20-day EMA. Attention turns to the 50-day EMA at 132.52 where a break would threaten the recent bearish theme and instead signal scope for a stronger recovery, potentially towards 133.45, the Aug 8 high and a key resistance. Initial firm support lies at today’s low of 131.20. A reversal lower and a breach of this level would be seen as a bearish development.
  • A bearish theme in Gilt futures remains intact, however, a strong rally today suggests the contract remains in a short-term corrective cycle. Price has traded through the 20-day EMA. A continuation higher would signal scope for a stronger recovery and open 94.89, the 50-day EMA. Moving average studies continue to highlight a downtrend, the bear trigger has been defined at 91.19, the Aug 17 low.
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets
Foreign Exchange Technical AnalysisHomepagemarkets-real-timeBulletMarketsFixed Income BulletsForeign Exchange Bullets

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