JPMorgan - Technical Strategy: The intermediate euro recovery against G-10 currencies has reached the projected consolidation targets, which inherits a high risk of resuming the long-term downtrend shortly. The broad recovery of CE-3 currencies this year and in particular since the beginning of June seems to be complete so that the long-term downtrends are expected to be resumed shortly. Stay long EUR/CZK and USD/ZAR & short EUR/USD, GBP/JPY, AUD/USD, NZD/CAD, EUR/KRW, EUR/MXN, NZD/NOK and PLN/HUF.