By Jeremy Boulton — May 19 - 03:00 AM
EUR/USD rose rapidly and far between Sep and Mar (0.9528-1.1034 EBS)
Thereafter pair stalled eking out tiny gain to 1.1096 as traders grew longer
There was a $6bln rise in bullish bets for 62 pips of fresh gains
Net long almost $25bln is a reverse indicator nL1N37F0J9
Rally became stretched with pair above peak 20-day/week Bollinger bands
Pair is yet to reach min target for tech correction of this rally
A drop to 1.0497 might lay foundations for bigger gains
Source:
Refinitiv IFR Research/Market Commentary