EUR/USD: UBS favours buying the euro on dips, for now

UBS says it prefers to buy the EUR/USD on dips for now.

"The dollar strengthened on new hopes for a US tax reform deal, but despite the more positive (or less negative) short-term sentiment regarding the USD, a EUR/USD decline seems limited for the time being.

November's momentum still seems to be pointing upwards with the trend line coming in around 1.1800/10, so we prefer to buy around 1.1840/50 with stops below 1.18 for now."