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Jun 24 - 05:00 AM
EUR/USD - FX Traders Beware Far Fewer EUR/USD Shorts To Feed The Rally
First appeared on eFXplus on Jun 24 - 03:10 AM
  • EUR/USD breaks higher but fuel for the rally is already lacking IMM/FX
  • Traders pared net shorts significantly ahead the Fed and surely more since
  • By Jun 18 EUR shorts trimmed to just 6.5 billion, rough 40% reduction
  • Since Jun 19 EUR/USD 1.1188-1.1389 today, Almost certain shorts pared again
  • Top current range 1.11-1.14 unchallenged. Mar high 1.1448. Feb high 1.1488
  • Area of greater volume in 2019 1.12-1.15. vols remain low. Break unlikely

EURUSD monthly and vol Click here

Source:
Refinitiv IFR Research/Market Commentary

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