It's tough to bet against the euro
Since Macron's win in the first round of the French election it's been the same story in the euro, told in a variety of different ways: The dips are shallow and quickly erased.
That's true in the longer timeframe and it's often true intraday. Today the euro slumped on waves of EUR/CHF selling but it's bounced all the way back to unchanged against the US dollar at 1.1750.
To be clear, the euro is in some kind of consolidation phase after hitting 1.19 last week but until the uptrend from the April lows breaks, the compass points north and it's just q question of whether to buy it for a short-term trade like today, or a longer-term trade.
