EUR/USD Remains A Sell; Bearish & Short EUR/AUD, Gold - BofA Merrill

From efxnews.com

Bank of America Merrill Lynch's arguments for selling EUR/USD remains unchanged. "The combination of deteriorating European assets (topping European bank stocks and vulnerable peripheral debt) and poor price action gives EUR/USD bears the all clear to act. We wish to sell a bounce at 1.3735 and would look to add at 1.3825," BofA clarifies the rationale behind the call. "Price should not trade above 1.3919 and CAN’T TRADE ABOVE 1.3993," BofA adds. "Targets are 1.3104 and then 1.2775/1.2685. WE KNOW THAT THE STOP IS WIDE AT THIS STAGE. As such, one should place a partial stop loss at 1.3920," BofA adds. In ... (full story)