Morgan Stanley: Sell EUR/USD after the Fed meeting

The European Central Bank disappointed markets by lowering rates on deposits with 0.10% and extending the program for acquisition of assets, but does not increase its volume. There wasn't even a hint that interest rates will continue to fall, noted forex strategist at Morgan Stanley.
EUR/USD will probably record an upward movement by the meeting of the Federal Reserve in mid-December, which will liquidate part of recently accumulated short positions. Bullish factor is the lack of expectations for new stimulus in the Eurozone.
In the medium term, however, experts of Morgan Stanley remain bearish on the united currency and plan to resume purchases of dollars after the Fed meeting. After the new reduction in rates, the role of the euro as a funding currency will strengthen, according to the strategists.