• Bullish signal if 21-DMA 1.1470 rises over 55-DMA 1.1482

• Speculators are betting over $8 billion that the euro drops

• Bets on a drop were created when pair was lower

• Few shorts have been pared during 1.1352-1.1580 rise

• Short squeeze may follow any close over 100-DMA at 1.1567

• Traders heavily long USD ahead of US CPI report

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EURUSD


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