EUR/USD: Buying big dips still preferred but we may get one….
Overall I remain firmly in the USD-bear camp but of course there will be plenty of swings and roundabouts especially when cross plays take precedence. EUR/USD looks quite constructive technically and buying dips back towards 1.3410/50 looks like the obvious play. But, we may get a buy-the-rumour-sell-the-fact reaction to the German election? I do not like the risk-reward in selling near current levels at 1.3535 but short-term bears might get some value in trying to pick any exhaustive intraday spikes looking for a quick 100/150 pip turnaround. That’s how I favour trading it over the next few sessions.