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Oct 07 - 05:55 AM

EUR/USD - Crawl Will Disappoint Many Traders, Dip Very Likely

By Jeremy Boulton  —  Oct 07 - 03:45 AM
  • Traders have wagered 27 billion dollars on EUR/USD rising

  • After July's surge EUR/USD rally slowed to a crawl

  • Since reaching 2020 high on Sep 1 EUR/USD declined

  • Vitally pair based ahead 1.16 in late Sep but rise since negligible

  • Roughly 1/3 bullish bets established after EUR/USD hit 1.1908 at end of July

  • If situation unchanged by year-end longs will have lost 0.3% to carry costs

  • The probability of a significant unwinding of longs is high

  • 1.15 is level to buy into a bullish trend. 38.2% 2020 rise is 1.1488




EUR/USD Click here

EUR/USD Click here

Source:
Refinitiv IFR Research/Market Commentary

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