• Traders are betting $8.5 billion that euro drops

• EUR/USD has risen since specs sold short

• Pair rising from 1.1353 on Jul 28 to 1.1711 on Aug 21

• Rise followed by a shallow dip to 1.1637 on Aug 27

• The 200-DMA at 1.1634 is underpinning EUR/USD

• Bullish cross (21-DMA at 1.1589 above 100-DMA at 1.1573)

• Crowded dollar longs set to shape Jackson Hole market reaction

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EURUSD


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