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Jan 07 - 07:55 AM

EUR/USD - Little Scope For Bigger EUR/USD Rise

By Jeremy Boulton  —  Jan 07 - 05:48 AM

• EUR/USD has rebounded from an oversold situation

• The 1.0225-1.0434 rise has alleviated oversold conditions

• Peak of 20-day Bollingers at 1.0537 likely limit for correction

• Top pickers may be drawn toward Dec 30 high at 1.0458

• Short covering will have lessened restraint of bearish bets

• Net $9 billion short position isn't big restraint on downtrend

• Dollar may pause ahead of bigger gains


EURUSD


(Jeremy Boulton is a Reuters market analyst. The views expressed are his own)

Source:
London Stock Exchange Group | Thomson Reuters

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