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Top Trade Idea 2020: Short EUR/CHF, EUR/JPY as Eurozone Economy Suffers from Impact of Brexit

Top Trade Idea 2020: Short EUR/CHF, EUR/JPY as Eurozone Economy Suffers from Impact of Brexit

Martin Essex, MSTA, Analyst

Looking back at the forecasts made a year ago by the DailyFX analysts, I was struck by the fact that four of us were bearish the Euro: two against the Japanese Yen and one against the Canadian Dollar while I predicted a fall against the Swiss Franc.

We were all right: EUR/JPY and EUR/CHF both dropped between late December 2018 and early September 2019 before rallying later in the year; EUR/CAD fell between December and early October before recovering. For me, the major surprise in 2019 was that the Euro did not fall further, as I had expected the Eurozone economy to be hit by Brexit which, of course, did not happen.

--- Written by Martin Essex, Analyst and Editor

Feel free to contact me via the comments section below, via email at martin.essex@ig.com or on Twitter @MartinSEssex

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

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