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Weekly preview - Thanksgiving position squeeze
Dollar bulls will be looking to take advantage of low volumes and poor liquidity this week and drive the Euro through key EUR/USD support levels around 1.0600 and potentially below 1.0500 as expectations of monetary divergence continues. The latest CFTC data, however, recorded a fresh increase in speculative dollar longs to the highest level in over 8 months with the number of Euro short contracts at close to 165,000. This lopsided positioning increases the risk of a short squeeze and markets will be very aware of this potential heading into the Thanksgiving period. There is a much increased risk of a false break ... (full story)
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