The EURUSD pair initially fell during the day on Monday, but turned right back around and form a bit of a hammer.

By doing so, looks as if we are trying to build up enough pressure to break above the 1.1350 in a.

Once we get above there, the market could be free to go to the 1.15 handle, so this point in time you would have to be bullish.

I believe pullbacks continue to find buyers, and the floor in the market right now is roughly the 1.12 handle. I have no interest in selling.

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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