mardi 23 juillet 2013

MORGAN STANLEY: EUR/USD indicators still negative

With its risk-adjusted yield spread between EU and the US remaining in a downtrend. The bank says this particular indicator has been a good guide for EUR/USD and after some stabilization, which was consistent with the rebound seen in the spot, it is now showing signs of turning lower. EUR/USD trades at 1.3192, MS says levels above 1.32 provide a good selling opportunity for a move below 1.3150, which would generate a sell signal and suggest a resumption of the major downtrend.

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