There is a high risk that the market is missing a 5th wave decline in EUR/USD to 1.0462 (2015 low) and most likely to 1.0072 (76.4 % of the 2000-2008 rally) as long as key pivotal resistance at 1.1087 is capping the upside, says JP Morgan. "The latter would receive fresh support via a break below 1.0753 (hourly Ichimoku-lagging), but to be able to rechallenge 1.0485/62 (wave 3 projection/2015 low)it would take a break below 1.0632 (minor 76.4 %). A break above 1.1087 though would call for a stronger recovery to at least 1.1216/80 (weekly.-daily trends)," JPM argues. This also, according to JPM, applies for a range of ... (full story)