JPMorgan technical analysts nibble on a euro short
Earlier, the technical analysis team at JPMorgan says there is a "good risk reward" to enter a "careful" short position in EUR/USD.
The trade goes against all the rules about picking tops/bottom and fighting the momentum. It's already underwater because they first recommended it at 1.2226.
They say to add to the position at 1.1425 and to sell more if/when it falls to 1.1040 with a target at 1.0730. The stop loss is 1.1575.
What do you think?
