A couple of recommendations from bank analysts

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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.

GBP/USD technical analysis chart August 13, 2013

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.

Author: Adam Button

Adam Button is the managing editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes there's an edge in knowing every tidbit of news. He was formerly the head of the markets team at the Canadian Economic Press and is a graduate of Ryerson University. Adam lives in Montreal, follow him on Twitter: @FX_Button.

2013-08-13T14:34:17+0000

All|Americas|Market Rumors|Regions

BAML|CitiFX|recommendation

Adam Button

8 Comments

  1. You se sceptical about these recomms Adam.

  2. I try to let them stand as they are. I don`t want us to be the only sources of insight here.

  3. “I don`t want us to be the only sources of insight here.”
    That reminds me of the gaffe of the day down under, from (opposition leader) Mr Abbott. “No-one … is the suppository of all wisdom” (warning on the link: funny, if you like your political humour in the gutter). Squeeze as much out of that one as you like.

  4. I get better info from the comments than BAML and Citi but people love recommendations so that’s why I post ‘em.

  5. Might as well been a clearance sale sign 0.9200 – 50

    https://www.tradingview.com/x/QxQfiRKu/

  6. nice

  7. What’s the timeframe for eurusd going to 1.37? No way, I say. Usdjpy to 99 this week and AUDUSD to .8950 before thing gets hairy.

    Here’s to hoping.

    Also, for any Aussies who appreciated the American political satire staple “The Daily Show” John Oliver did a funny bit on the elections down under last night.

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