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J.P.Morgan Recommend Short EUR/USD Position

EUR

J.P.Morgan note that “key factors have moved in a more negative direction for the euro in the past month - gas prices have spiked, growth momentum has worsened and inflation has firmed. While the euro has underperformed in G10 in the past month, EUR/USD has been remarkably resilient, but we think the downward trajectory will resume - real yields have moved in favour of the U.S. and the euro doesn’t discount additional growth downgrades.”

  • As such, they recommended selling EUR/USD on Wednesday, with an entry point of $1.0190 and a stop set at $1.0400.
  • They also remain short EUR/CHF.
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J.P.Morgan note that “key factors have moved in a more negative direction for the euro in the past month - gas prices have spiked, growth momentum has worsened and inflation has firmed. While the euro has underperformed in G10 in the past month, EUR/USD has been remarkably resilient, but we think the downward trajectory will resume - real yields have moved in favour of the U.S. and the euro doesn’t discount additional growth downgrades.”

  • As such, they recommended selling EUR/USD on Wednesday, with an entry point of $1.0190 and a stop set at $1.0400.
  • They also remain short EUR/CHF.