EUR crosses/EUR/USD

EUR/USD: I prefer the “buy silly dip” strategy

I still have trouble getting out of range trading mode in EUR/USD so I prefer to wait and buy any silly exhaustive dips looking for an easy retracement. I can’t see this pair making any massive moves pre-Christmas so with that in mind, I think it’s a matter of looking for obvious 100 pip trades. The one potential landmine for the EUR could be EUR/JPY, as if that turns really sour then EUR/USD could break lower.
On the day, if an hourly base forms near 1.2610/20 then I’d look to buy looking for 1.2750.

  1. Some notes from UBS: + FX flows in week ending Nov 9 more subdued vs previous weeks; Positioning in EURJPY flat after recent sales by real money, hedge funds; Paves way for a bigger move in spot EURJPY +

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