Everyone can see the chart, but only a few can actually read it.
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Morgan Stanley FX Chart Of The Week: Where To Sell EUR/USD?
Morgan Stanley picks EUR/USD as its FX chart of the week where MS is bearish on the pair and is looking to sell. MS gives some insights on the levels at which traders should sell the pair and place their stops. On the 10-year EUR/USD chart: "Breaking below 1.28 in recent months meant that EURUSD broke a trend line formed since 2001, providing a stronger bearish signal (chart). EURUSD is currently in a C-wave beginning from a peak of 1.3993 in May. We expect EURUSD to trade below the A-wave bottom at 1.2043," MS projects. On the 2-year EUR/USD chart: "EURUSD has come under selling pressure after breaking out of ... (full story)
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