EURUSD pair fell during the day on Thursday, as we drove lower and trying to reach down to the 1.1050 level.

This is an area that we have suggested previously as being support, and it should be again here.

If we get any type of supportive candle or a bounce somewhere in this area, we are more than willing to start buying yet again.

If we do get that bounce, we could go as high as the 1.13 level above, which was the recent high.

If we break down below the 1.10 level however, we should drop to the 1.08 handle.

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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