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Thomson Reuters
Jun 11 - 05:00 AM
EUR/USD - Looks Very Bullish But It's Only A Minor Correction
First appeared on eFXplus on Jun 11 - 03:25 AM
  • EUR/USD rose 2.1% in just 6 days from 1.1116 to 1.1348
  • It took a sea change in thinking on U.S. rates, massive change in betting
  • Full 25bps rate cut was priced in during that period
  • EUR/USD shorts are biggest FX bet, some paring was inevitable IMM/FX
  • Positions have largely been exited for a profit, likely to be re-established
  • 1.1377 38.2% retr of current trend, minimum requirement of a tech correction

EUR/USD daily Click here

Source:
Thomson Reuters IFR Markets

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