The EURUSD pair fell significantly during the day but did bounce a bit by the end of the day on Friday.

By doing so, looks as if we are trying to build up enough momentum to finally break above the 1.1350 level, but with this being the case I have to admit that there is quite a bit of resistance above.

I think that given enough time we will find momentum on pullbacks, so that might be the easiest way to trade this market, simply buying those pullbacks for short-term moves.

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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