There still has not been a convincing break above technical resistance at 1.3420 so we may get a stalling period at this level. That said, trends in December tend to go longer and faster due to limited liquidity and the EUR-bearish trend would seem to have been negated for now. The EUR crosses have also rallied but pairs like EUR/CHF remain heavy.
Dips should be contained above 1.3320 or 1.3280 at a stretch. I’m not hearing of much in the way of heavy sell interest until 1.3580ish so with the EUR market probably still short, buying dips in the short-term looks like the most obvious play. I’d also suggest keeping positions smaller than usual.
