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Sep 05 - 04:55 AM

EUR/USD - Drop Will Force Traders To Reevaluate Their Position

By Jeremy Boulton  —  Sep 05 - 02:50 AM
  • EUR/USD sinks to a 3-month low at 1.0758 EBS

  • Traders have wagered $20 billion on euro rising

  • Recent closes below 1.0786 target May's low at 1.0635

  • There is a growing risk of a close below 100-WMA at 1.0750

  • Closes under 1.0695 would target March low at 1.0517

  • Those short dollars might get squeezed nL1N3AH0GD

Source:
Refinitiv IFR Research/Market Commentary

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