EUR/USD: Firmly bullish, buy the dips around 1.1650 – JP Morgan

In the view of the analysts at JP Morgan, EUR/USD’s sharp correction could likely be a good opportunity to buy opportunity.

Key quotes

“Euro drifted lower on short term profit taking.

Expect pullbacks in the region of 200 points or so as part of the process to a higher EUR/USD.

There are some concerns around positioning … especially in the current illiquid markets.

We are still firmly bullish and advocate running a core long.

Room to add on pullbacks initially to 1.1700 and more so at 1.1650.”