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Feb 16 - 06:55 AM

EUR/USD - Positioning Is The Key To Determine Short-Term EUR/USD Movement

By Jeremy Boulton  —  Feb 16 - 05:05 AM
  • Traders have staked $18 billion on EUR/USD rising

  • Pair rising 0.9528-1.1034 EBS Sep-Feb

  • Since ECB, Fed meets and NFP's a top has been defined

  • Pair tumbling to 1.0656 following more strong U.S. data

  • Traders making money will probably book profits - sell nL1N34U1JE

  • Weight of long liquidation may drag pair to correction target

  • A 38.2 retracement Sep-Feb rise is 1.0459

  • FX traders should worry about yen, not intervention nL1N34W0NE



Source:
Refinitiv IFR Research/Market Commentary

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