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EUR/USD: Warning Signs; Cable: Breakout Needed - JP Morgan
EUR/USD's failure to display two consecutive lower daily close with the lagging line below the cloud so far at 1.3524, sends some warning signals for bears that this market has to be handled with care as this failure could at least mean that we are due for a bounce, argues JP Morgan. "But as long as the daily breakout line (at 1.3573) and hourly trend line resistance (currently at 1.3599) are not taken out we see the bears in full control," JPM adds. "The final confirmation that we are dealing with a much broader downtrend would anyway only be delivered via breaks below 1.3436 (int. 76.4 %) and below 1.3383 (200 ... (full story)