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Thomson Reuters
May 08 - 08:36 AM
EUR/USD - Extends The Slide As More Longs Are Pared
First appeared on eFXplus on May 08 - 06:20 AM
  • EUR longs trimmed EUR 1.2bln by May 1 but still 14bln vs 18bln in mid-April
  • EUR/USD 1.1874 low on course for 76.4% of its rise from Nov 2017 at 1.1790
  • Today's wider FX moves reflect a paring of short USD positions
  • Bears beware. From l-term perspective drop is minimal and should be bought
  • Correction to 1.1710 (38.2% retr 2017-2018 rise) healthy l-term uptrend
  • Moves are cause to anticipate less hawkish Fed more hawkish ECB nL1N1SF08J

eur/usd and eur long positions Click here

EUR/USD daily Click here

Source:
Thomson Reuters IFR Markets

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