Analysts at MUFG Bank, consider a long trade idea on the USD/CZK. They see there is an increasing risk of a correction higher for the US dollar in the near-term. They think of a target at 23.100, with a stop -loss at 21.800. Key Quotes: “European currencies have outperformed against the USD since mid-May but there are tentative signs that the favourable trend for European currencies is beginning to turn. The CZK was the best performing European currency over the recent period of outperformance as it strengthened by around 14% against the USD. If the tide is now turning, the CZK could start to retrace more of those sharp gains. Bullish sentiment towards European currencies has become overdone and is overdue a correction. The ECB’s decision to push back against EUR strength could help to trigger a broader correction lower for European currencies such as the CZK in the near-term.” “The growth of new COVID cases has also risen sharply in the Czech Republic which poses a downside risk to the economic recovery. In addition, we expect emerging market currencies to find it more challenging as we move closer to the US election especially if the race continues to narrow.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US: Consumer confidence still remains well-below its pre-virus level, but moving in the right direction – Wells Fargo FX Street 2 years Analysts at MUFG Bank, consider a long trade idea on the USD/CZK. They see there is an increasing risk of a correction higher for the US dollar in the near-term. They think of a target at 23.100, with a stop -loss at 21.800. Key Quotes: “European currencies have outperformed against the USD since mid-May but there are tentative signs that the favourable trend for European currencies is beginning to turn. The CZK was the best performing European currency over the recent period of outperformance as it strengthened by around 14% against the USD. If the tide is now turning, the… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.