The EURUSD pair tried to rally during the course of the session on Wednesday, but struggled at the 1.0980 level again in order to fall.

With that being the case, we found the 1.09 level offer little bit of support.

In other words, this is a very volatile market and we feel that the market is going to continue to bounce around between the 1.08 level on the bottom, and the 1.10 level on the top.

Because of the way this market is acting, we are simply willing to sit on the sidelines and wait for some type of considerable move.

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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