 | |  | | EUR/USD: Lots of Dip Buying; Longs a Little Nervous
Boston, February 24.
With gold and oil both shooting higher, dealers have been content to buy the recent dips but there is beginning to be some concern among intraday longs that a swift bounce may not play out. Jobbers are hoping for a drift back up toward 1.1885 to offload their wares, but stops are being tightened, with some eyed in the 1.1850/60 area now. Logically, one should place stops below recent lows at 1.1845, but pockets are short, given recent dull ranges. Official bids at 1.1885were filled in and reports of Middle Eastern selling made the rounds, belying earlier talk of purchases on dips. EUR/USD trades at 1.1873. |  |  |  |  |
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