The EUR/USD pair rallied a bit during the day on Monday, but we remain relatively choppy in this area, so I believe that the 50-day exponential moving
The EUR/USD pair rallied a bit during the day on Monday, but we remain relatively choppy in this area, so I believe that the 50-day exponential moving average could offer resistance, and push this market back towards the 1.05 level. The 1.0750 level above there should be resistance as well, so it’s going to be difficult to trade this pair. I believe that we are trying to make some type of serious decision, so long-term traits are going to be difficult to deal with. A short-term buying opportunity towards the 50-day exponential could be in the cards.
Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.
