MUFG trade of the coming week: Sell USD/CAD and stay short EUR/USD

MUFG Analysis provides a contemporary brief USD/CAD to its Commerce of the Week advice concentrating on a transfer in direction of 1.2150 with a cease at 1.2750.

MUFG additionally maintains a brief EUR/USD concentrating on a transfer in direction of 1.0710 and a cease at 1.1230.

“We’re recommending a brand new brief USD/CAD commerce thought. The pair has damaged beneath an essential technical resistance over the previous week offered by the 200-day shifting common at simply above the 1.2600-level and the upward development line assist that joins the lows from June 2021, October 2021 and January 2022 that is available in round 1.2570,” MUFG notes.

“We’re sustaining our brief EUR/USD commerce thought. We contineu to imagine that threat stays tilted to the draw back for the pair,” MUFG provides.

For financial institution commerce concepts, check out eFX Plus.

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