• EUR/USD 1.1772-91 EBS range on Tuesday ahead Wed's planned peace talks

• Pair well within Friday's 1.1849 high and Monday's 1.1729 low

• EUR/USD rose 1.0125 to 1.2084 fell to 1.1409 and rallied to 1.1849

• Big rise, modest retreat followed by swift gains - a very bullish situation

• Traders long of 23bln euros have pared bets to 3.2 billion euros

• Less to restrain a likely extension of the uptrend

• An escalation of the mid-east conflict risks a deeper correction

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EURUSD and betting


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)