The EURUSD pair tried to rally during the session on Monday, but as you can see gave back about half of the gains in order to form a shooting star.

The shooting star as you can see is a very negative sign, but at the end of the day we are essentially just hanging around the 1.36 level.

Ultimately, this is a market that we are not that interested in training at the moment, as it looks far too choppy to be bothered with.

The 1.37 level above continues to be resistance, while the 1.35 level below continues to be support. Because of this, we are on the sidelines.

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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