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Oct 04 - 06:55 AM

EUR/USD - Looks Set To Drop With The Bookies Winning Again

By Jeremy Boulton  —  Oct 04 - 05:00 AM
  • Traders are betting EUR/USD rises but pair now dropping

  • Rally failed at 1.1214 ahead of important upside levels

  • Since trading 2024 peak pair has dropped to 1.1008 in just 6 days

  • Gambling is a popular past time but most gamblers lose

  • Traders have taken the long odds by betting on a break

  • Bookmakers look set to win with EUR/USD returning to neutral level

  • Mid-point of this year's range is 1.0908

  • FX markets could turn ugly nL1N3LG06U

Source:
Refinitiv IFR Research/Market Commentary

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