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EUR/USD squeeze not yet finished

BofA Merrill Lynch notes .... While we remain long term EUR/USD bears, the near term setup points to a further corrective squeeze higher. Gains should be limited to 1.0995/1.1098, but could extend as far as 1.1188 before…

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BofA Merrill Lynch notes ....

  • While we remain long term EUR/USD bears, the near term setup points to a further corrective squeeze higher. 

  • Gains should be limited to 1.0995/1.1098, but could extend as far as 1.1188 before topping and resuming lower. 

  • Below 6d trendline support (now 1.0685) says the downtrend has resumed for 1.0283 and potentially below. 

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