Morgan Stanley Technical FX Chart Of The Week

From efxnews.com

Morgan Stanley picks EUR/CAD as its technical FX chart of the week where MS is looking for selling opportunities. On the 10-year EUR/CAD Chart: "EUR/CAD has developed a medium-term bearish pattern, suggesting a move below the 1.2129 low traded in 2012. We are looking for selling opportunities as this market retraces its initial impulsive decline witnessed from 1.5583 to 1.4061. The 38.2% retracement of this move comes in at 1.4615, coinciding with the upper boundary of the trend channel coming down from 1.5583," MS projects. On the 2-year EUR/CAD Chart: "The wave pattern is outright bearish. A (B)-wave top has been ... (full story)