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Year-end short covering to support EUR - SocGen

Started by forex4you, Dec 06, 2022, 02:27 am

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Year-end short covering to support EUR - SocGen

<p>Societe Generale Research likes long EUR/USD into year-end targeting 1.10 with a stop at 1.0190.</p><p>"Year-end short covering and market bias to be upbeat about
2023 should help the euro. There has been a series of positive euro
performances in December in recent years, followed by a correction in
January. That partly reflects euro shorts being covered and
partly optimism that the European economic outlook is going to improve,"
 SocGen notes. </p><p>"But EUR/USD is 14% below its long-term average and 8% below its
average since the January 2015 move to negative rates. There is a lot of
 bad news embedded in current prices," SocGen adds.</p><p>For bank trade ideas, <a href="" rel="nofollow" target="_blank" data-saferedirecturl="">check out eFX Plus</a>. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. <a href="" rel="nofollow" target="_blank" data-saferedirecturl="">Get it here</a>.</p>

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Source: Year-end short covering to support EUR - SocGen
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