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Oct 06 - 05:55 AM

EUR/USD - Big U.S. Bank Adds To Its Core EUR/USD Long

By Richard Pace  —  Oct 06 - 04:05 AM
  • JPM re-entered its core EUR/USD long in early Oct nL1N2GS09K

  • JPM adds to its core EUR/USD long after break of 1.1770 trendline resistance

  • They say that technically, this points to a move back toward 1.1900

  • Notes EUR/JPY back above 124.20-30 - hurt EUR when broke below late Sept

  • JPM also cite diminishing concerns about a contested US election

  • But they say any upturn in Trump betting odds would be a concern

  • FX options market also flags increased risk of 1.1850-1.1900 nL1N2GX064


EUR=EBS Click here

Source:
Refinitiv IFR Research/Market Commentary

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