EUR/USD: Prefer to buy intraday dips for possible short-squeeze

Notwithstanding the fact that the SNB is upsetting the market equilibrium with their ill-advised tactics, I still like the risk-reward associated with buying dips in EUR/USD in anticipation of a pre-weekend short squeeze. EUR/GBP led the way overnight and I suspect that there will now be plenty of stops above 1.2500 in EUR/USD.

The short-term charts would suggest that my stop-loss should be below 1.2390, so buying any dips to 1.2430/40 with a tightish stop makes good trading sense to me.

Leave a Reply

Your email address will not be published. Required fields are marked *