13 Feb 2015
Morgan Stanley: EUR bear market in the waiting, Sell rallies – eFXnews
FXStreet (Barcelona) - The eFXnews Team shares Morgan Stanley’s view that with EUR/USD in middle of a rolling correction, any rallies should be used as a selling opportunity.
Key Quotes
"With respect to EURUSD, markets seem to be in the middle of a ‘rolling correction’. While leveraged accounts seem to be taking off some EUR short positions, EMU financial intermediaries and real money accounts continue to buy FX denominated assets. Against this background, it seems only a question of time before the EUR breaks lower once again," MS projects.”
"Economic data have been somewhat more robust, but we would use any rallies in EUR on strong data as a selling opportunity," MS advises.”
This content has been provided under specific arrangement with eFXnews.
Key Quotes
"With respect to EURUSD, markets seem to be in the middle of a ‘rolling correction’. While leveraged accounts seem to be taking off some EUR short positions, EMU financial intermediaries and real money accounts continue to buy FX denominated assets. Against this background, it seems only a question of time before the EUR breaks lower once again," MS projects.”
"Economic data have been somewhat more robust, but we would use any rallies in EUR on strong data as a selling opportunity," MS advises.”
This content has been provided under specific arrangement with eFXnews.