EUR/USD: a counter-trend sale of the euro is possible with current pricing (UBS)

UBS believes that a sale of the EUR/USD on the forex is conceivable given current prices, but this remains a trade tactic that is against the trend.

"Yesterday was a new day with new highs on the EUR/USD, with a brief shift towards 1.1910 Wednesday night, but the pair ran out of gas up there and returned towards 1.1850.

We will have the US job report today, and judging from the recent price action, there has been selling of the USD, and the risk is therefore to have a dollar "relief rally".

So for now, we can consider a tactical sale of the EUR/USD with a stop above recent peaks, but the more global strategy is to buy the dips."