- The EUR is fairly neutral on the crosses, bullish against the GBP and CAD, medium-term overbought against the AUD and consolidating against the Yen;
- EUR/USD remains in a predictable short-term up-trend which is obeying technical guidelines like Fibonacci retracements;
- Talk of large optionality at 1.40 will only act like a magnet.
I prefer to be very patient here and buy big dips towards 1.3780. A break above 1.4000 will change the game and cause some heavy short-covering.