JP Morgan stays sidelined on EUR/USD in the near-term.

"Conviction still remains pretty muted out there but certainly feels like the market is getting long USD as we near the end of the month; looking at flows SHFs are on a strong 5 streak since the Fed while RM have bought 10 of the last 11 sessions, DHF are more mixed but the options market has been quite noisy with EURUSD downside this week," JPM notes.

"Still struggle to chase as we are painting the other side of a frustrating range with a very murky outlook," JPM adds.