MUFG trade of the week: Staying short GBP/CAD and long USD/SEK

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MUFG maintains a short GBP/CAD targeting a move towards 1.63, with stop at 1.07050. MUFG also maintains a long USD/SEK targeting a move towards 11.450, with a stop at 10.650.
</p><p>"We are maintaining our short GBP/CAD trade idea. The trade recommendation got off to a good start this week resulting in GBP/CAD breaking further below the 200-day moving average at around 1.6735," MUFG notes.
</p><p>"We are maintaining our long USD/SEK trade idea. It has been a volatile week for the SEK but recent developments are not sufficient to alter our outlook for the SEK to weaken further in the near-term," MUFG adds.</p><p>For bank trade ideas, <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" rel="nofollow" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&amp;source=gmail&amp;ust=1695676954265000&amp;usg=AOvVaw2VAXj_016B-m49irY8bCC6">check out eFX Plus</a>. For a limited time, get a 7 day free trial, basic for $79 per month and premium at $109 per month. <a href="https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD" rel="nofollow" target="_blank" data-saferedirecturl="https://www.google.com/url?q=https://plus.efxdata.com/ad/track/4655172E54F06040571CD0AB083845AD&amp;source=gmail&amp;ust=1695676954266000&amp;usg=AOvVaw2_eImwxL6V64xN9ZvoA4ph">Get it here</a>.</p>

This article was written by Adam Button at www.forexlive.com.