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Year-end short covering to support EUR - SocGen

Societe Generale Research likes long EUR/USD into year-end targeting 1.10 with a stop at 1.0190.

"Year-end short covering and market bias to be upbeat about 2023 should help the euro. There has been a series of positive euro performances in December in recent years, followed by a correction in January. That partly reflects euro shorts being covered and partly optimism that the European economic outlook is going to improve," SocGen notes.

"But EUR/USD is 14% below its long-te... Read More

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Posted: Dec 5 2022, 18:51

Author Name: forexlive

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