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Feb 07 - 05:55 AM

EUR/USD - Long Liquidation Might Drive EUR/USD Toward 1.0500

By Jeremy Boulton  —  Feb 07 - 04:00 AM
  • EUR/USD flipping from one side 20-week Bollingers toward the other

  • Pair dropping this year after almost hitting top of bands in December

  • Unwinding of long positions helping to fuel the EUR/USD decline

  • So far traders have pared $8 billion of a $20 billon gamble

  • Further liquidation could drive EUR/USD toward base bands at 1.0544

  • The lack of action may hurt the euro nL1N3ES0P3

Source:
Refinitiv IFR Research/Market Commentary

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