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OUTLOOK: Price Signal Summary - Corrective Cycle In Bunds

OUTLOOK
BundesbankCentral Bank NewsCEEMEAEurozoneGermanyBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • In the FI space, the trend in Bund futures is unchanged, it remains bearish. However, Wednesday’s gains highlight a possible short-term reversal signal - a bullish engulfing candle. If correct, it suggests scope for a corrective bull cycle that would allow an oversold trend condition to unwind. A continuation higher would open 132.55, the 20-day EMA. The bear trigger has been defined at 130.28, the Jan 15 low, a break would resume the downtrend.
  • The trend condition in Gilt futures is unchanged, the direction remains down. However, strong gains this week highlight the start of a corrective phase and if correct, signals scope for a continuation higher near-term. Attention is resistance at the 20-day EMA, at 91.54. This average has been breached, a clear break would suggest scope for a stronger retracement, towards 92.27 next, the Jan 6 high. On the downside, the bear trigger has been defined at 88.96, the Jan 13 low. First support lies at 90.68, the Jan 16 low.
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  • In the FI space, the trend in Bund futures is unchanged, it remains bearish. However, Wednesday’s gains highlight a possible short-term reversal signal - a bullish engulfing candle. If correct, it suggests scope for a corrective bull cycle that would allow an oversold trend condition to unwind. A continuation higher would open 132.55, the 20-day EMA. The bear trigger has been defined at 130.28, the Jan 15 low, a break would resume the downtrend.
  • The trend condition in Gilt futures is unchanged, the direction remains down. However, strong gains this week highlight the start of a corrective phase and if correct, signals scope for a continuation higher near-term. Attention is resistance at the 20-day EMA, at 91.54. This average has been breached, a clear break would suggest scope for a stronger retracement, towards 92.27 next, the Jan 6 high. On the downside, the bear trigger has been defined at 88.96, the Jan 13 low. First support lies at 90.68, the Jan 16 low.