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9 Apr 2015
Treasuries: bearish momentum still the key drivers – RBS
FXStreet (Barcelona) - Dmytro Bondar, Technical Analyst at RBS, suggest remaining short on treasuries to 128-11 onto 127-19.
Key Quotes
“The market saw an inside session which, coupled with bearish momentum readings, points to increased bearish risks, especially if the 129-05+ support is broken.”
“The slow stochastic oscillator remains overbought and displays signs of negative divergence. Therefore, I favour being short with the first significant support area of 128-04+/11 being the main target.”
“A break below 129- 05+ should trigger the move and confirm the view; whereas a break above 129-24+ would require a view re-assessment. “
Key Quotes
“The market saw an inside session which, coupled with bearish momentum readings, points to increased bearish risks, especially if the 129-05+ support is broken.”
“The slow stochastic oscillator remains overbought and displays signs of negative divergence. Therefore, I favour being short with the first significant support area of 128-04+/11 being the main target.”
“A break below 129- 05+ should trigger the move and confirm the view; whereas a break above 129-24+ would require a view re-assessment. “