Forex Flash: Bund momentum turning bullish for weekly interval – RBS

Bund prices have met the full target from the inverse head and shoulders pattern (144.94- 145.00 region), which also marks a Fibonacci retracement from December-January move. In particular, “This the region where we like to take profits and wait for a consolidation within the 143.70 – 145.20 region to be completed. Weekly momentum is turning bullish, as indicated by the slow stochastic oscillator. Overall, we favor taking profits at the target area and waiting for a dip to reload longs.” suggests Technical Markets Strategist Dmytro Bondar at RBS.