The Euro may reach $1.47 on a Bullish breakout according to JP Morgan Chase

The Euro may reach $1.47 on a Bullish breakout according to JP Morgan Chase

  • Posted Tuesday, August 04, 2009 -
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The euro may approach its December high of $1.4720 after breaking through key resistance at $1.4338, JPMorgan Chase & Co. said, citing trading patterns. A bullish breakout is under way following the impulsive advance through the June high, Niall OConnor, a technical analyst at JPMorgan in New York, wrote in a note to clients today. The upside bias will likely shift into a grind higher, but keep in mind there is little evidence of a topping pattern right now. The euro advanced for a

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