Short EUR/USD: G10 trade idea of the week - SocGen

Research Team at Societe Generale, suggests going short on the EUR/USD for the week for the target of 1.04 by maintaining a stop loss of 1.1150 while the entry level being 1.0920.

Key Quotes

“Friday’s weak German CPI number and strong US core PCE showed that the monetary policy divergence is not yet dead for EUR/USD. This is also shown by flows, with the latest bop showing record debt outflows. Positioning has lightened considerably. The IMM report shows net speculative shorts to be the lightest since mid-2014.”