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EUR/USD: Downtrend Not Confirmed; Cable: Awaits Breakout - JP Morgan
As long as EUR/USD trades below 1.3615/20 (hourly Ichimoku-lagging/hourly trend) it remains highly vulnerable to a break below key-support between 1.3525 (daily trend) and 1.3468/36 (daily Ichimoku-lagging/minor 76.4 %), notes JP Morgan. "The latter would basically confirm the constitution of a new and broader downtrend which would only leave temporary support at 1.3354/1.3295 (200 DMA/pivot) in the way in terms of support before 1.3154/04 (weekly trend/pivot), 1.3024 (int. 76.4 % on higher scale) and 1.2832 (weekly trend) would come into focus," JPM projects. In Cable, JPM notes that the chart unveils that it would ... (full story)
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take what you can take, before market take it back