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Dec 09 - 07:55 AM

EUR/USD - Shorts Provide Drag But Lack Stopping Power

By Jeremy Boulton  —  Dec 09 - 06:10 AM
  • Traders wager $7.5 billion on euro dropping nL1N3NA057

  • Bearish bets act as restraint on a possible drop

  • While notable, the bet isn't big and could grow much larger

  • Past trends have been sustained with bets three times greater

  • The record bet is roughly four time bigger than current short

  • Probable limit for correction before move lower circa 1.0650

  • China's policy shift may fuel more demand for dollars

Source:
London Stock Exchange Group | Thomson Reuters

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