The EUR/USD pair fell during the session on Monday, but as you can see bounced of the 200 day moving average. The 200 day EMA has been flat for some time, and as a result trend traders will have been very uninterested in this pair. This market is a perfect example one that is choppy, as you can see the entire month of April has been back and forth. Based upon the slight bounce that we got late in the day on Monday, we don’t expect to see anything different during the Tuesday session either. With that being said, only very short-term trades can be had in a marketplace like this.
Written by FX Empire