• EUR/USD is at the 1.1582 top of 20-week Bollingers

• Pair trading above 1.1486 peak 20-month Bollinger Bands

• EUR/USD well below 1.1837 top 20-week Bands

• Many targets for 2025 lie close to current peak of the 20-week bands

• It took 38 trading sessions for 2025 high to rise by 59 pips

• The time taken for small addition to 2025 peak suggest pair overbought

• Bullish bets growing to $13bln - they could double before becoming too large

• It has taken bets in excess of $25bln to curb prior euro trends

• It's an odd time to gamble on dollar

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EURUSD

(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)