Entering the ECB meeting, there is a lot of pressure on the euro. So, if you opt to sell, what levels should you be looking at? The team at Morgan Stanley long term and short term lines, looking at recent waves as well: Here is their view, courtesy of eFXnews: Morgan Stanley picks EUR/USD as its FX chart of the week where MS is bearish on the pair and is looking to sell. MS gives some insights on the levels at which traders should sell the pair and place their stops. On the 10-year EUR/USD chart: “Breaking below 1.28 in recent months meant that EURUSD broke a trend line formed since 2001, providing a stronger bearish signal (chart). EURUSD is currently in a C-wave beginning from a peak of 1.3993 in May. We expect EURUSD to trade below the A-wave bottom at 1.2043,” MS projects. On the 2-year EUR/USD chart: “EURUSD has come under selling pressure after breaking out of the triangle in May and has since fallen from a peak of 1.3993. An impulsive downwards sequence has formed and is currently in the (5)th wave which is nearing completion. Crossing below 1.2250 breaks the bottom end of a long-term trend channel, supporting the bearish view,” MS argues. On the 90-day EUR/USD chart: “The sub-count in the (5)th wave is incomplete giving a bearish signal. We would sell around current levels and put a stop around 1.27. If the subcount of iii is correct then EURUSD would not extend beyond the 1.26 high. However, if a new high is made then we would expect EURUSD gains to remain limited towards the 1.27 area, where we would sell,” MS advises. For lots more FX trades from major banks, sign up to eFXplus By signing up to eFXplus via the link above, you are directly supporting Forex Crunch. Yohay Elam Yohay Elam Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts. Yohay's Google Profile View All Post By Yohay Elam EUR/USD DailyForex News Today: Daily Trading News share Read Next EUR/USD, USD/JPY, GBP/USD December 1 Technical analysis, Pivot Points John Benjamin 8 years Entering the ECB meeting, there is a lot of pressure on the euro. So, if you opt to sell, what levels should you be looking at? The team at Morgan Stanley long term and short term lines, looking at recent waves as well: Here is their view, courtesy of eFXnews: Morgan Stanley picks EUR/USD as its FX chart of the week where MS is bearish on the pair and is looking to sell. MS gives some insights on the levels at which traders should sell the pair and place their stops. On the 10-year EUR/USD chart: "Breaking below 1.28 in… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.