The Euro has pulled back during the trading session on Monday to show signs of hesitation from the 50 Day EMA.
German GDP numbers for the first quarter were in line with the first estimates. leaving the EUR in the hands of consumer sentiment, which disappointed.
The Euro has rallied a bit during the trading session on Tuesday to reach the 50 day EMA. That being said, we have pulled back just the bid and it looks as if the market is starting to run out of momentum.