The EURUSD pair went back and forth during the session on Thursday, ultimately settling on a slightly positive candle.

At this moment time, it appears that the market is simply going to go sideways, and therefore we don’t really have any need to be involved at all.

With that, we feel that the market is probably one that’s best avoided, as the market should continue to go sideways over the course of the next several sessions.

A break below the 1.37 level could send this market looking for 1.36, but at this point in time we think that the market is simply confused.

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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