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Aug 20 - 03:55 AM

EUR/USD - Can Move Down Far More Easily Than It Can Rise

By Jeremy Boulton  —  Aug 20 - 02:36 AM
  • EUR/USD last traded under yesterday's low on Nov 4 2020

  • Traders are far less prepared for drop than a rise

  • Speculators are still sitting long IMM/FX

  • There's huge option coverage due to months of trade between 1.17-1.23

  • Today's expiries are a good example of the imbalanced hedging

  • EUR 500mln below at 1.1675 versus EUR 2.6bln between 1.17-18

  • Downside opening as 20-day Bollinger bands drop, today BBS are 1.1650-1.1783


EURUSD Click here

Source:
Refinitiv IFR Research/Market Commentary

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