A couple of recommendations from bank analysts

Author: Adam Button | Category: News

Analysts at BAML are recommending GBP/USD shorts. They see a likely decline toward 1.5206 on a sustained break below 1.5438 (low so far today is 1.5427). From there they see a possible extension down to 1.4800.

200-dma (orange), 55-dma (green), 100-dma (red)

The last time in mentioned BAML, they were recommending USD/JPY and EUR/JPY shorts in anticipation of a bid drop. Those trades are about even.

Meanwhile, technical analysts at CitiFX are recommending EUR/USD longs. They seem to have picked a bad to time to buy with the position established near the highs of the day today at 1.3310 (but hey, if they liked it at 1.3310, they love it at 1.3250). They have a stop at 1.3150 and are looking for 1.3700 initially.

The last time I mentioned a CitiFX call was last Thursday on a long recommendation on EUR/CHF at 1.2304. It’s been a quiet trade (as usual) but it popped to 1.2380 today so they have some profits to work with.