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

Nonetheless, we are still within the consolidation area that we have been in for some time.

Quite frankly, this is a market that is far too noisy to consider placing any real money in, and as a result we remain on the sidelines at FX Empire as the pair seems to be very tight and without a doubt very difficult to navigate at this point in time.

We will of course keep you abreast of any change in our trading strategy.

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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