The EURUSD pair rally during the day on Monday and relatively thin conditions as Europeans would’ve been celebrating Easter Monday.

Because of this, I think that we will have to pay attention to the possibility of resistance near the 1.07 handle, and an exhaustive candle should be a selling opportunity.

The 1.0750 level above is massively resistive, so I’m waiting to see if we can get some type of exhaustive candle to start selling, as I believe that we will continue to see a lot of choppiness.

Alternately, if we break above the 1.0750 level, that should be a very bullish sign.

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 (EURUSD), 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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