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Thomson Reuters
May 08 - 05:00 AM
EUR/USD - Correction To Continue While More Longs Are Pared
First appeared on eFXplus on May 08 - 02:40 AM
  • EUR/USD bulls were trying to hold their positions as of May 1
  • May 1 low 1.1981, traders only pared EUR 1.2 bln longs in latest week
  • Net positions were EUR 14.3bln from EUR 15.5 and EUR 18.b bln on Apr 17
  • Deeper EUR/USD fall as larger unwind of positions continues looks likely
  • Techs bearish for 1.17 targets. 38.2% EUR/USD's full rally is 1.1710
  • The 76.4% retrace of Nov 17-Feb 18 rise is 1.1790

eur/usd and eur long positions Click here

EUR/USD daily Click here

EUR/USD daily Click here

Source:
Thomson Reuters IFR Markets

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