Pretty bullish technical event yesterday but the failure to close above the previous 1.4650 high will have taken the gloss off marginally. Middle East Sovereign buyers were again seen in early London buying in reasonable size as were Asian central banks. As long as these flows are EUR/USD positive, it’s pointless trying to fight the uptrend. EUR/GBP has turned bullish again; if this cross can break above .8950 and if EUR/JPY can re-establish itself above 120 then the EUR bulls will generate fresh momentum.
Buying dips in EUR/USD still the name of the game. There’s no technical resistance of note until 1.5140.