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Aug 13 - 04:55 AM

EUR/USD - Bulls Show No Signs Of Tiring, Yet

By Jeremy Boulton  —  Aug 13 - 02:50 AM
  • EUR/USD rallying strongly from 1.1711 yesterday to 1.1838 EBS today

  • 2020 peak at 1.1916 is tantalisingly close and specs will surely gun for it

  • Specs are hugely long and current pressure suggest longs will grow

  • There is a good chance that spec bets will reach record levels

  • That's a problem as huge bets always lead to reversals nL1N2FD095

  • For now momentum and techs clearly favour bulls. Related nL1N2FF08F

  • A possible top is 1.1953, the 100% fibo target drawn off Mar low 7 Jun high



EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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