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EUR/USD: Range Breakout Needed; Cable: Uptrend Intact - JP Morgan
No major news on EUR/USD as the market is still showing great difficulties to reach and surpass the main resistance zone between 1.3795/1.3833 (76.4 % on higher scale/pivot) and 1.3880/93 (monthly trend/last top), notes JP Morgan. "As long as particularly 1.3795/1.3833 is not taken out though we still see a high risk of accelerating down south which would receive fresh support via breaks below 1.3684 and 1.3663 (pivot/minor 38.2 %)," JPM projects. "Such breaks would challenge 1.3562/47 (pivot/minor 76.4 %) next which can be seen as an interim target only," JPM adds. JPM maintains short EUR/USD position as a trade ... (full story)
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always draw trendlines
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