EUR/USD: Buying dips preferred whilst crosses are bullish
- EUR/AUD has made strong weekly close above 1.4400 and buying dips is once again the obvious play here.
- EUR/GBP is consolidating its break above .8600 and once again dip-buying looks like the safer play.
- EUR/CHF has seen increased demand in the last week (although we’ve read this book before!)
- EUR/JPY is the only one of the main crosses which looks a bit bearish given the topping formation (see chart) but a clean break above 131.50 would really change that outlook.
I prefer to buy intraday dips in the EUR/USD looking for a re-test of last week’s spike highs at 1.3200.