JPMorgan: Euro remains potential for further growth

Bulls on the euro once again met with rebuff near $ 1.4150/40, and failing to overcome Ofer located in this area were once again forced to withdraw, leaving the single currency is now trading near $ 1.4112, the risk of further correction towards $ 1.4075/70, and and then to $ 1.4040. Currency strategists JPMorgan, however, the bulls are advised not to lose hope and continue to consider attempts to reduce the euro / dollar as an opportunity to resume purchases. The Bank draws attention to the fact that the euro has recently continued to be traded in the range, while the latter is becoming narrower. JPMorgan strategists believe that the current technical picture remains positive for the bulls, and a confident break above $ 1.4140 would signal a new wave of growth.