The EURUSD pair broke higher during the course of the session on Tuesday, clearing the 1.10 level. With this, the market then reached towards the 1.11 handle, but found a bit of resistance. With this, we believe that the market continues to bounce around between the 1.09 level on the bottom, and the 1.11 level on the top.

Currently though, this is a very choppy and difficult market to deal with so any trading you do get involved with should be short-term and small.

We have no interest in placing longer-term trades at the moment, and believe that we will continue to consolidate overall.

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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