EURUSD pair rose during the day on Tuesday, as we slammed into the 1.14 region.

There is quite a bit of resistance here though, so more than likely we will have to pullback in order to build up enough momentum to go higher.

Ultimately, we do believe that the market will break out, but this is an area that probably is going to cause a bit of an issue.

The 1.15 level will be the target going forward, but eventually could even get broken. If that’s the case, it would become a “buy-and-hold” situation.

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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