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May 30 - 03:55 AM

EUR/USD - Traders Clearly Love A Gamble And Most Gamblers Lose

By Jeremy Boulton  —  May 30 - 02:40 AM
  • EUR/USD traders continue to bet against the trend and fundamentals

  • Traders have been long for all but two weeks this year

  • Traders encouraged by a ECB chatter have just doubled bets on a rise

  • EUR/USD has risen 1.0349-1.0765 EBS

  • This is a small fraction of the decline since Fed spoke of tapering

  • The target for a 23.6% correction of Fed drop is 1.0801

  • Target for min tech correction of this year's decline is 1.0787

  • The trend is your friend, those long or buying should consider that



EURUSD Click here

EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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