Morgan Stanley reversed its bets on EUR/USD in its short-term macro portfolio from short to long. MS exited its EUR/USD long from 1.3800 on a small profit and entered long from 1.3730, with a stop at 1.3660, and a target at 1.3950. "EURUSD is set to keep the pressure on the upside, we believe, as year-end related factors are likely to remain EUR supportive. Hence, we enter near-term tactical bullish strategy as repatriation-related flows drive currencies further away from fundamental and market-orientated indicators. We expect the 1.3830 highs of the year (achieved in October) to be tested, with a move above here ... (full story)