The EURUSD pair fell during the session on Tuesday, as the 1.37 level did in fact offer resistance. This is been the case for this level for some time now, and although we did shoot through quite a bit of resistance to get here, the truth is that the nonfarm payroll numbers coming out on Thursday will somewhat hinder any significant moves in this market place.

This pullback will more than likely find buyers below, but the real move may not come until after that announcement comes out. Regardless, taking a large position in this market is probably risky.

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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