Eddie Tofpik, head of FX at ADM Investor Services pointed out to a long-term moving average golden cross over on the EUR/USD chart, but advised caution as action in the EUR/USD over the last few days looks like a short-term bull trap. Tofpik called it as "slow trap with a music going on". Tofpik also sounded bullish on Indian Rupee stating there exists a potential for a downside move in the USD/INR pair to 64.50 levels.