Few traders have pared bets on EUR/USD rising

Since Jul 21 EUR/USD has dropped 1.1276 to 1.0686

Only $6.8 billion of $25.1 bln of bullish bets have been pared

Friday's close below 100-WMA is a bad omen for $18.2 bln longs remaining

With base 20-week Bollinger bands at 1.0606 - plenty of scope for a drop

The target for a minor correction Sep-Jul surge is 1.0608

Deeper EUR/USD drop will support bets held vs Asia currencies nL1N3AN0DI