The usual weekly technical report from SC.
They have turned bullish the eurusd pair up to 1.40 mirroring the jpm shift. Its plain to see that if we could get above the 1.40 level in the coming weeks it would be a game changer for the Dollar basket with all the asset implications this would imply. For now have many participants sticking to the long usd theme but near term hedging their bets up to the 1.40 level. From a trading perspective I would love push the level over to test how many stops would be triggered and what asset allocation implications would occur.With US$ inversely correlating instruments like oil breaking down its not really supporting the push through 1.40 as yet but lets see. The move is still in play for now.
Other pairs long jpy vs usd, short gbp vs usd, etc.
Here their report:
All the best
Rich