By Jeremy Boulton — Oct 02 - 02:35 AM
By Sep 26 traders were still betting $13 billion on a rise
IMM traders' largest bet is little changed from 13.6 bln on Sep 19
Between Sep 19 and Sep 26 EUR/USD dropped 1.0676-1.0562 EBS
Pair flirted with 2023 low at 1.0482 on Sep 27 reaching 1.0488
Following recovery reached 1.0617 - Oct 2 range 1.0558-72
Losses or loss of profits may encourage further unwind of longs
Next targets for a deeper correction are 1.0461 and 1.0280
Source:
Refinitiv IFR Research/Market Commentary