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15 May 2015
Morgan Stanley: Sell EUR/USD rebounds above 1.15 – eFXnews
FXStreet (Barcelona) - The Morgan Stanley Research Team see further room for adding tactical shorts in USD, but suggest selling any rebounds in EUR/USD above 1.15 region, as noted by eFXnews.
Key Quotes
“We are still of the view that the US remains “the best house in a bad neighborhood.” Indeed, without US consumption picking up, it is difficult to see how export-led economies will thrive in the medium term. As such, we are not adding short USD positions at this time even if there is some further room for tactical USD downside against certain currencies,"
EUR/USD Technical Setup: "The wave structure suggests that there could be some upside momentum in EURUSD since the 5 th wave is incomplete. We suggest selling on rebounds just above the 1.15 area. There will be further downside momentum on a move below 1.1200, the lower end of the current channel”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
“We are still of the view that the US remains “the best house in a bad neighborhood.” Indeed, without US consumption picking up, it is difficult to see how export-led economies will thrive in the medium term. As such, we are not adding short USD positions at this time even if there is some further room for tactical USD downside against certain currencies,"
EUR/USD Technical Setup: "The wave structure suggests that there could be some upside momentum in EURUSD since the 5 th wave is incomplete. We suggest selling on rebounds just above the 1.15 area. There will be further downside momentum on a move below 1.1200, the lower end of the current channel”
This content has been provided under specific arrangement with eFXnews.