USD/CAD, EUR/USD, EUR/JPY: 'Marking Time'; What's The Trade? – SocGen

Societe Generale FX Strategy Research notes that USD/CAD, EUR/USD, and USD/JPY are marking time after recent moves and highlights some related potential trading opportunities in the 3 pairs. 

We still hanker to get short USD/CAD at 1.40 or so and maybe the downgrades (which tend to lag rather than lead the news cycle) will provide an opportunity,” SocGen argues. 

“EUR/USD needs Bund support and while both EUR/USD and EUR/JPY are a buy here, patience will be needed,” SocGen adds. 

EUR/USD is trading circa 1.0868, EUR/JPY circa 123.50, and USD/CAD circa 1.3750 as of writing. 

Source: Societe Generale Cross Asset Research

The article is published by one of the foremost sources of Forex trading information. Link to the original article above.

from eFXNews http://feedproxy.google.com/~r/Efxnews/~3/ldk5x7ug3pI/usdcad-eurusd-eurjpy-marking-time-whats-trade-socgen

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