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Sep 26 - 11:00 AM
EUR/USD: Rather Play The Momentum Than Fight It; USD/JPY: Wary Of Bear Trap Here - Credit Suisse
First appeared on eFXplus on Sep 26 - 09:23 AM

Credit Suisse Research discusses its tactical trading bias on EUR/USD and USD/JPY in the near-term.

"As far as trading is concerned, buying into $ dips in-line with momentum feels the correct play – there has been no bounce in EUR$ at all and this supply will likely intensify through the YTD lows. We would rather play this way than fight what feels like a powerful theme in flow-driven markets and in the current lack of visibility over the GC Repo/Funding situation into Q/end," CS notes. 

"Still wary of the USD/JPY bear-trap but mindful that we need to lower entry levels. One of the $ pairs we are more comfortable fading  in these conditions – imagine we will struggle to sustain a break above 108.00/50 once again," CS adds. 

Credit Suisse Research/Market Commentary


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