Since EUR/USD traders began to bet more money on a rally, the pair has stalled and is now not far from the level where traders began to raise the stakes.
Not long ago traders were doing well.
They first bet on a rally in March and endured a lot of downside pressure without baulking but barely reacted when the pair bounced.
By the time traders decided to bet bigger on a rally, EUR/USD was heading above 1.11 and had topped out before many of the new long positions had been added.
New bets are substantial with $6 billon added in total 5 billion of which were established after EUR/USD had peaked above 1.14.
Risks for those long have grown with the pair closing below the weekly Ichimoku cloud top and 100-WMA on Friday nL1N2DZ08P.
Adding to risk is a daily Ichimoku cloud twist near 1.09 that occurs close to the end of June when there's reason to expect dollar demand nL1N2DZ099
EUR/USD and betting Click here