Citi nailed last week's trade. Here's the follow up

Author: Adam Button | Category: News

The trade of the week from Citi

Analysts at Citi got it right last Monday when they suggested selling USD/CAD. The pair was trading at 1.3443 at the time and has since slumped to 1.3216. That hasn't quite reached their profit target of 1.3150 but it's not far away.

This week, they've gone back to familiar territory and are recommending a EUR/USD long.

Citi recommends buying EUR/USD around 1.1192 targeting 1.1450 with a stop at 1.1040. Spot is at 1.1160 so it's already 32 pips cheaper than their entry. That's a good or bad thing, depending on your perspective and faith in Citi.

For bank trade ideas, check out eFX Plus.