EUR/USD traders have been paring long positions since July

Bets trimmed from $25 billion toward $10 billion

EUR/USD hit 2023 at 1.1276 in July then reached 2023 low at 1.0448 in Oct

EUR/USD was overbought in July then oversold in October

Pair rebounds to 1.0600 then drops to 1.0528 due Israel war nL1N3BF0CI

Long positions will continue to weigh on the pair

FX traders buy high and pay the penalty nL1N3BF0DK