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Feb 05 - 06:55 AM

EUR/USD - Longs At Risk As EUR/USD Drops Below Another Big Level

By Jeremy Boulton  —  Feb 05 - 04:50 AM
  • EUR/USD drop below 100-DMA at 1.0784

  • Feb 5 range 1.0760-86 EBS

  • Drop currently stretched toward 1.0766 base 20-day Bollinger bands

  • Dec low is 1.0724 and 1.0715 is 61.8% Oct-Jan surge

  • Traders are sitting on a sizeable $12bln long position nL1N3EQ0SG

  • Pair dropping from 1.1139 in December while $8bln longs pared nL1N3EQ0QR

Source:
Refinitiv IFR Research/Market Commentary

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