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Citi - Trade idea: Sell EURUSD..........>

EURO-DOLLAR
EURO-DOLLAR: Citi - Trade idea: Sell EURUSD $1.1376, target $1.1100 and a stop
at $1.1525.
Citi add, Legacy EURUSD longs may capitulate soon: Looking at legacy positioning
on the CME, we calculate Real Money net longs in EURUSD established since early
2016 have an effective rate of 1.1410. Given the macro backdrop and catalysts
ahead, we are concerned that this mix of macro risk and positioning will
catalyse another leg lower in EURUSD.

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