Damn, I want to short this pair. But, when these JPM dudes are thinking shorts, there's a very good chance this pair will go to the moon.
EUR/USD: Key For A Game Change; Cable: Breakout Line Next - JP Morgan
The 1.3825/45 zone in EUR/USD (minor 38.2 %/pivot) stands now as a major key for a game change, notes JP Morgan. As long as the pair remains below this level, it opens the way for another break below 1.3782 (minor 38.2 %) and then towards a straight extension to the internal wave 3 projection at 1.3751, with a confirmation via a break below 1.3711 (pivot) which would provide additional evidence that 1.3573 (daily trend) is in focus next, JPM projects. This, according to JPM, would support the idea that we have really seen the reversal of an almost 2 years long counter trend rally at 1.3967 which has very negative ... (full story)