Home EUR/USD: Longs A Super-Trade In The Month Heading To Fed’s Cut – Nordea
Daily Look

EUR/USD: Longs A Super-Trade In The Month Heading To Fed’s Cut – Nordea

Here is their view, courtesy of eFXdata:

Nordea Research discusses EUR/USD outlook and keeps flagging  long EUR/USD position  as the second-best G-10 FX trade in months leading up to the first Fed cut, only outpaced by a long EUR/NZD position.

“As we have shown in recent FX Weeklies,  long EUR/USD is usually a super trade in the month heading into the first Fed cut. Only  long EUR/NZD has a better track-record into the first Fed cut.

ECB easing is also a done deal now, as Draghi hinted of easing unless the outlook improves (more QE and a rate cut). The outlook will not improve (before 2020), but the ECB usually delivers when projections are updated – i.e. in September (they will ease with a time-lag after the Fed),” Nordea notes.

For lots  more FX trades from major banks, sign up to eFXplus

By signing up for eFXplus via the link above, you are directly supporting  Forex Crunch.

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.