EUR/USD is seeing some profit-taking as the reflation trade comes under pressure after a six-day rally. EUR/USD bulls will be happy to buy dips toward the 1.4112 area where the trendline broken last week at the top of the consolidation triangle that contained EUR/USD for the last six weeks comes in. With moving averages sloping upward, a long in the 1.41110/15 area with a tight stop looks like a solid risk/reward trade. Set stops below 1.4050 while looking to take profit on the approach of 1.43.
