eFX Apex
The Institutional-Grade Data Hub
- Plus: Discretionary Trades
- Edge: Sentiment Trades
- Alpha: Systematic Trades
- Apex: Full Big Data Stream
Jul 30 - 07:55 AM
–
EUR/USD - Short Squeeze Could Result In A Bigger Rise
By Jeremy Boulton — Jul 30 - 05:57 AM
• EUR/USD up from 1.1375 to 1.1475 EBS on Wednesday
• High matches the peak of the 20-day Bollinger bands
• Dip to 1.1435 on Thursday followed by rise top 1.1465
• Traders were betting $6billion on euro dropping
• Short squeeze lifting euro after Fed held US int/rate
• Close over 55-DMA, daily cloud base 1.1495/90 risks bigger rise
• Crowded dollar longs leave currency vulnerable to further unwinding
•
EURUSD
(Jeremy Boulton is a Reuters market analyst. The views expressed
are his own)
Source:
London Stock Exchange Group | Thomson Reuters