The EURUSD pair went back and forth during the session on Tuesday, forming a very neutral candle.

Because of this, we feel that the market simply isn’t going to do my share, and quite frankly is probably finding a significant amount of support up to 1.38 handle, perhaps enough to bring the buyers back into the fold given enough time.

We believe that there’s a significant amount of noise just below, so selling of course can be done.

Break ire, we think that the gap will be filled from the weekend. That of course is a short-term trade, but that’s all we see the moment.

Editor’s Note: Equity investors/traders can use the Currency Shares Euro Trust (FXE, quote) ETF to take positions in the euro without a FOREX account.  The ETF looks to track the price of the euro, minus ETF fee. The fund seeks to reflect the price of the euro with the shares representing a cost-effective investment relative to investing in the FOREX market.

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