Forex Insider Daily Update 2 Augustus 2017

Major Bank Daily Position

GBP/USD - Credit Suisse - LONG Position - From 1.3005 - Adjusted - Target from 1.3250 to 1.3255, Stop from 1.2912 to 1.2930 (S/T)

USD/JPY - Credit Suisse - SHORT Position - From 111.40 - Adjusted - Stop from 112.50 to 112.20, Target: unch. (M/T)

USD/JPY - UOB - SHORT Limit Order - Adjusted - Entry from 110.85 to 110.55, Stop from 111.50 to 112.00, Target: unch. (M/T)

GBP/USD - UOB - LONG Limit Order - Placed - Entry: 1.3145, Target: 1.3270, Stop: 1.3095 (S/T)

USD/JPY - UOB - SHORT Limit Order - Filled - Entry: 110.55 - Target: 109.50, Stop: 112.00 (M/T)

EUR/JPY - Credit Suisse - LONG Position - From 128.80 - Hit Target at 130.75 (S/T) +195 pips

Morgan Stanley

MS expects substantial EUR strength this year and next and sees upside risks to its current EUR/USD targets.

In our view, our unchanged forecast 1.18 by year end seems too conservative in light of global growth picking up.

Our bull case sees EUR/USD reaching 1.28 in Q2 2018. Looks increasingly plausible to us.