The EURUSD is also trading in a choppy fashion as the London close approaches. The 200 bar MA on the 5 minute chart is the 1.3632 level and the price has moved above but finding profit taking sellers. The Friday close always has the potential to lead to a move through but using the level as a key pivot is the best scenario. The market is at a crossroad.
Below the support will be eyed at 1.3613 (midpoint of the days range) and the 1.3594 level where the 100 bar MA on the 5 minute chart is found. If the 1.3613 level holds support the short term traders may look to push the stops above.
Be on alert. Risk is increased with the volatile action.
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