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#1 19-05-2015 07:52:12

johnedward
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From: Paris - France
Registered: 21-12-2009
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EUR/USD, EUR/JPY: Morgan Stanley sees EUR/USD making brief climb

EUR/USD, EUR/JPY: Morgan Stanley sees EUR/USD making brief climb over 1.15


http://www.forex-central.net/forum/userimages/morganstanley.gif


Morgan Stanley remain bearish on the EUR/USD in the medium term and is on the lookout for an opportunity to sell.

"We believe that the EUR/JPY should be sold at current levels given that we are above a 38.2% Fibonacci retracement of the first wave and the wave is almost complete. A stronger downward signal could be triggered by a move below the recent consolidation zone around 133.90. We would then place a stop at the 50% Fibo retracement at 137.90.

http://www.forex-central.net/forum/userimages/MorganStanley-forecast.png


"The wavy structure also suggests that there could be momentum on the EUR/USD since wave 5 is incomplete. We suggest a rebound right above 1.15. There will be more bearish momentum when we fall below 1.12, the lowest point of the current channel." says Morgan Stanley.

http://www.forex-central.net/forum/userimages/MorganStanley-forecast2.png


"Anything worth having is worth going for - all the way." - J.R. Ewing

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