The EURUSD pair rose during the course of the session on Monday, as we continue to see support just below.

The 1.12 level has offered enough support to cause a bit of a bounce, and it should in theory continue to see upward pressure in a market that tries to reach towards the 1.14 handle.

If we can break above there, we could very well try to go to the 1.15 handle. If we break above there, the market should continue to go much more higher on a “buy-and-hold” type of move.

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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