JP Morgan: short on EUR/USD

JP Morgan technical strategists hold a short position on EUR/USD since mid-March with a stop at $1.3950, an initial target at $1.3130, and a secondary target at $1.2900.

In a short term analysts see a chance to test the $1.3820 resistance area (61.8% Fibo from the 2011-2012 decline). Clear break above here would weaken the bearish view. Decline below $1.3610 would fully confirm the bearish dominance over the pair. 

Chart. H4 EUR/USD


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