Dear ALL, I'm confident to inform you that FX market is too big to be a rescter of any person or institution, be it BofA or Maryill.
EUR/USD Turns Trend; Stay Patient On USD/JPY - BofA Merrill
Bank of America Merrill Lynch's bullish EUR/USD view was proven incorrect as the impulsive decline from 1.3835 resistance, coupled with the break of 1.3412/1.3452 support says the trend has turned bearish. "Gains should be seen as corrective and limited to 1.3452/1.3548 before resuming lower. Downside targets are seen to the 200d (now 1.3218), ahead of 16m channel support (now 1.3000) before renewed signs of stabilization," BofA projects. Meanwhile, BofA thinks that USD/JPY remains within the confines of the 6m triangle/range trade/continuation pattern, while the long term bull trend is still intact. As such, BofA ... (full story)