The below is the hourly chart of the Bund. Price has pulled back to the S1 pivot – a level which overlaps with price support (blue shaded horizontal). This may be an attractive level to buyers and price may react positively off of this area. We are looking for the green 5-hour EMA to cross above the orange 10-hour EMA and for the RSI to move above 50 to signal a potential bullish bias. As such, we continue to monitor.
Past performance is not an indicator of future results.
CHART SOURCE: FXCM MARKETSCOPE 2.0
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