EUR/USD/Flows and Orders

EUR/USD: Interbank order books favour buying dips

There is a bit of a scrap going on near 1.2740 and the bulls seem to be lacking the necessary momentum for now to bust through that level. Dealers say that bids on the downside are becoming more solid, especially near 1.2680, so buying dips might be the path of least resistance in the short run.

I can’t think of any good reason to be long of EUR, but on the other hand I can equally think of no good reason for being long the USD either! Best to ask no questions and go with the flow I suppose.

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