News


Mitsubushi has a zloty trade but the rational extends beyond it

MUFG recommends buying USD/PLN at 3.9500 with a target of 4.0400 and a stop at 3.9200.

“We are recommending a long USD/PLN trade idea to reflect the increased risk of a correction higher for the USD. Our QI RSU models have been signalling that the USD has become heavily oversold in recent weeks. The souring of investor sentiment over the past week is creating a more-favourable environment for the USD to rebound,” they wrote.

“PLN has been one of the best performers against the USD over the past month, having strengthened by around 7%. Those gains would be vulnerable if the USD rebounds more broadly,” they write.

For bank trade ideas, check out eFX Plus



Source link

Articles You May Like

Live Forex Trading – EURUSD, AUDUSD, GBPUSD, NZDUSD, USDCAD, USDCHF, USDJPY
Dollar firms further on the session as risk aversion deepens
🔴 Watch Day Trading Live – July 28, NYSE & NASDAQ Stocks (Live Streaming)
Tropical storm Isaias nears the Dominican Republic
Forex Course 101: FOREX Trading Week | Lesson 16

Leave a Reply

Your email address will not be published. Required fields are marked *