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Jul 07 - 08:55 AM

EUR/USD - REFILE-BUZZ-EUR/USD Sell-Off Stretched But Wise To Hedge Risk Pair Drops

By Jeremy Boulton  —  Jul 07 - 06:40 AM

Corrects typo

  • EUR/USD is trading below base 20-day Bollinger bands, bounce likely

  • EUR/USD is extending major decline fuelled by Fed policy, deeper fall likely

  • Despite this massive drop traders are rarely venturing short

  • Last move by specs was to pare an already small bet EUR/USD drops

  • Without the restraint of spec shots EUR/USD could fall much further

  • Next targets for drop inspired by Fed are 1.0055, 0.9828 and 0.9602

  • Unless specs build a big short, good chance those targets are met

  • SNB policy is impacting EUR/USD nL1N2YO0K2nL1N2YO0LY





Source:
Refinitiv IFR Research/Market Commentary

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