It's not a big surprise for us to see major banks crowded in the short EUR/USD trade over and over but what is really interesting this time is how they seem to bet against the same level where their stops are placed around. That is the 1.3418 June-19 high which Bank of of America Merrill Lynch sees as a 'line in the sand' where its break would force BofA to abandon its bearish view and turn neutral. In line with this view, BofA maintains a technical tactical short EUR/USD position from 1.3355, with a stop at 1.3420, and a target at 1.2821. Same for Commerzbank who thinks that as EUR/USD has stalled below the June ... (full story)