• EUR/USD has returned to neutral ground following short squeeze

• Rise to 1.0820 EBS on Thursday is close 1.0746 centre 20-month Bollingers

• Precise centre of widest points traded in 2023 and 2024 is 1.0862

• Midpoint for trading since start of US tightening cycle in 2021 is 1.0938

• Drop in oil prices can support bigger gains and move into euro longs

• Targets should oil spur bigger drop for U.S. int rate: 1.1271 and 1.1745

• There is a risk that euro gets stuck in its old range

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