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Mar 15 - 05:55 AM

EUR/USD - Great News For EUR/USD Bulls

By Jeremy Boulton  —  Mar 15 - 03:36 AM
  • Large number of longs pared without overly impacting EUR/USD

  • Number of longs more halved since August 2020 when EUR 1.16-1.17

  • USD 10 billion longs pared since Jan 29 with EUR down 1.2171-1.1908

  • EUR/USD has only slipped modestly during period intense spec unwinding

  • EUR/USD remains 225-325 pips above level when spec were record long

  • High probability that position correction runs its course soon

  • 1.1695 is 38.2% Mar 2020-Jan 2021 rise, objective for a minimum correction


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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