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="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" rel="nofollow" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&source=gmail&ust=1670352688566000&usg=AOvVaw3R2XtSLc4clvXfT_jWnqv_">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="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" rel="nofollow" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&source=gmail&ust=1670352688566000&usg=AOvVaw3R2XtSLc4clvXfT_jWnqv_">Get it here</a>.</p>
This article was written by Adam Button at forexlive.com.
Source: Year-end short covering to support EUR - SocGen (https://forexlive.com/news/year-end-short-covering-to-support-eur-socgen-20221205/https://forexlive.com/news/year-end-short-covering-to-support-eur-socgen-20221205/)
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