The EURUSD pair broke higher during the course of the session in a massive show strength on Wednesday.

The 1.12 level was targeted and head, but it offered enough resistance to turn the market back around and keep the market below the 1.12 level.

With that, we are looking for resistive candle in order to sell this market, or we are willing to start buying this pair if we can break above the 1.12 level for at least 4 hours, if not longer than that.

Ultimately though, it would make sense if we pullback as we are in the middle of summer.

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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