EUR/USD Trading Heavy

On a Japanese holiday the market has been very quiet, but the thin market has not prevented the EUR/USD from moving lower. The pair is approaching last weeks lows and the pairs inability to close above the 21 day moving average last Friday continues to draw negative sentiment toward the pair. We will continue to look at the former trendline resistance and the 21 day moving average as short-term resistance and a break of the late February lows (support,) changing the game plan early in the spring.