Dmytro Bondar, Technical Analyst at RBS, suggests that the Bunds market has reached their long-term target of 0.16% from the Head and Shoulders pattern formed over the period of Apr – Jul 2015 and indicated there will be further upside after a correction to 0.05%. Key Quotes “This is due to a bull flag triggered, which has it measuring targets at 0.13%, 0.05% and -0.08%. the most important level here is the 161.8% projection, which is the same level as the previous low, ie.. 0.05%. It is quite common that after testing the 1st target (0.13%), the market has a correction back to the area where the flag was triggered, i.e. 0.28% - 0.30%. I believe this is going to be the case for the next week and the market will have a correction to at least 0.28%. After that, the market will be expected to resume its bullish pressure towards the bull flag targets of 0.13%, 0.05% and ultimately -0.08%.” For more information, read our latest forex news.