By Jeremy Boulton — Sep 04 - 05:55 AM
Bullish traders build $13 billion EUR/USD long position nL1N3KM09L
EUR/USD has risen from 1.0601 in April to 1.1201 in August
Drop to 1.1026 in September follows overbought situation
EUR/USD is no longer overbought and chart looks bullish
Lows stepping up toward 1.07 in July, then 1.08 in August
Good chance that low following current correction higher than 1.08
Golden Cross imminent - 100-DMA rising above 200-DMA
Targets for bigger rise: 1.1255, 1.1326, 1.1478 and 1.1626
Source:
Refinitiv IFR Research/Market Commentary