TVC:EUBUND
Hello dear trader, first of all thank you for reacting to this analysis proposal with a like or a comment if you agree or if you have corrections to add!
We have a ascending triangele in formation
REASON OF BEARISH:
1- PRICE ACTION AND REJECTION OF THE RESISTANCE
2-RSI ABOVE 70
The BundFuture has a very high level of resilience and is likely to continue to decline until the first half of 2019. This indicates that a slight increase in interest rates on 10-year German Bunds is to be expected at least in the short term.
As of mid-2019, uncertainty in the euro-area should prevail again and thus demand for the "safe" harbour of-BRD-bonds rise...
Bund is back on major support at 159.26 (Fibonacci retracement, horizontal overlap support) and a potential bounce could occur at this level to push price up to at least 160.65 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) is also making a nice pullback to previous resistance-turned-support line.
Trading CFDs on margin carries high...
Bund has made a bullish exit and sees major support at 159.26 (Fibonacci retracement, horizontal overlap support). A strong rise could occur from here pushing price up to 160.65 resistance (Fibonacci retracement, horizontal pullback resistance).
RSI (34) has made a bullish exit signaling that there’s a change in momentum from bearish to bullish.
Trading CFDs on...
Bund is seeing major support above 160.40 (100% Fibonacci extension, 78.6% Fibonacci retracement) and a potential bounce could occur at this level to drive price up to at least 161.88 (38.2% Fibonacci retracement, horizontal pullback resistance, 61.8% Fibonacci extension).
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so...
