Bund EMAs Remain In Bullish Stack

Russell Shor, CFTe, MFTA FXCM

The below is the daily chart of the bund. It’s EMAs are in a bullish stack. I.e. the green 5-day EMA is above the orange 13-day EMA, and the orange 13-day EMA is above the black 34-day EMA. The RSI(9) is above 50 and indicative of an underlying bullish momentum. Moreover, Tuesday’s candle is a reference candle (blue arrow) i.e. it has higher lows to either side of it. Yesterday’s candle closed above the reference candle’s high (black horizontal line). This gives weight to a higher bund price scenario.

Author

Russell Shor, CFTe, MFTA

FXCM

Russell Shor (MSTA, CFTe, MFTA) has an Honours Degree in Economics from the University of South Africa and holds the coveted Certified Financial Technician and Master of Financial Technical Analysis qualifications from the Interna

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