Bank of America Merrill Lynch: recommendations on currency trading
Changes compared to the previous publication of the forex strategies of this bank:
EURUSD. There is a limit order for sale from 1.1891, target 1.1500, stop 1.2100. The order is executed
Rationale: Bank analysts see asymmetric risks from the point of view of actual signals from central banks and market expectations – the Fed may take a tougher stance, while the ECB may well try to cool speculation on the curtailment of stimulus and express dissatisfaction with the growth of the euro. On the formation of the top and the risks of the development of a downward correction, meanwhile, the changes in the technical picture and signals from the quantum BoAML model also speak. The bank also notes the positive for the dollar divergence of the dynamics of oil prices and the euro to the dollar, and draw attention to the fact that the long position of speculators in euros remains at the maximum levels over the past few years.
Open positions Bank of America Merrill Lynch (-246 points in time):
the US dollar
|USDCAD||US dollar to
the Canadian dollar