MUFG trade of the week: Stay short EUR/USD | Forexlive

Last week, we published MUFG’s trade of the week, calling for EUR/USD shorts and they’ve had a good start. The euro is down to 1.0543 from 1.0684 when it was published.

This week, they’re sticking with it, keeping a target of 1.0335 and a stop at 1.0855.

“We are maintaining our short EUR/USD trade idea. The pair has broken back below the 1.0600-level over the past week and we expect it to fall back towards support from the 200-day moving average that comes in at around 1.0330,” MUFG notes.

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