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JP Morgan: High-conviction bearish EUR/USD Bias into the Summer months
According to JP Morgan, EUR/USD has stopped its decline from the April high of 1.1097 after reaching the March 78.6% retrace at 1.0637. Despite the lack of daily bullish pattern-based signals prior to the rebound, the bank highlights that lower-frequency bullish signals on the broad US dollar index chart preceded the April-May trend.Historically, these lower-frequency signals have aligned with predominantly bullish dollar trends over the next 1-6 month periods. Therefore, JP Morgan believes that...
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Posted: Jun 7 2023, 18:38
Author Name: forexlive
Views: 081222