EUR/USD can’t go up very much this afternoon but the shallowness of the dips is equally impressive. With stocks and commodities providing plenty of a cushion today, traders are in no hurry to book profits on EUR/USD longs.
That said, keep an eye on the US dollar index, however. It seems to be flashing a warning sign in that it was unable to extend its losses upon breaking key support at 75.085 earlier in the day. A move back above 75.25 could signal a very short-term bottom is in place.