Forex Flash: EUR/USD below 1.16 in 2013 favored – JPM

FXstreet.com (Barcelona) - For JPM Global FX Strategy analysts Niall O'connor and Thomas Anthonj, latest 3-month recovery in EURUSD is just a correction in a longer term period down trend, always in case the pair remained capped below past Oct lows around 1.3240/75.

"EURUSD - the recovery of the last 3 months has weakened the long-term downtrend," the analysts say, "but a retest and break below the 2010 and 2005 lows remains favored, provided 1.3140/75 is not taken out," they conclude.