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May 18 - 08:36 PM

EUR/USD - Traders Cling To Vulnerable Longs

By Jeremy Boulton  —  May 18 - 02:45 AM
  • EUR/USD traders continue to bet on a rise

  • Little change in net long positions since start April, now EUR 9.8bln

  • Since the beginning of April EUR/USD has settled into a 1.07-1.10

  • The range has dropped from 1.09-1.12 which held for 6 months before crisis

  • A bearish development of a bearish trend in place for two years

  • In short-term those long need a close above 21-DMA 1.0845

  • A reduction in bullish bets likely on any closing break below 1.0750




EUR/USD longs Click here

EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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