• Traders halve EUR/USD shorts in week ending Feb 28 - tariff deadline Mar 4

• Current $3.3 billion short is smallest since Nov 15

• EUR/USD plunged from 1.0937 to 1.0332 between Nov 5 and Nov 22

• Most shorts covered profitably and traders often return to profitable bets

• EUR/USD has convincingly broken below 1.05-1.10 range of prior two years

• Will to sell strength may add to imposing resistance around 1.05-1.06

• FX traders exposed after erasing Trump trade

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