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Oct 28 - 09:55 AM

EUR/USD, AUD/USD: Awaiting To Go Long; Targets & Stops - SocGen

By eFXdata  —  Oct 28 - 09:06 AM

Societe Generale is looking to buy EUR/USD and AUD/USD on further dips.

"If we do get a EUR/USD rally in November, GBP/USD may well follow. A US election outcome that takes EUR/USD back to 1.20, and a deal of sorts between the UK and EU which flushes out more EUR/GBP longs, could trigger a significant spike in GBP/USD. Having a directional view in GBP is hard, but buying cheap GBP/USD upside is more appealing than paying up for expensive downside," SocGen notes. 

"We still hoping to get long AUD/USD below 0.71 with a stop just below 0.70. and long EUR/USD below 1.17 with a stop below 1.15," SocGen adds. 

Source:
Société Générale Research/Market Commentary

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