The EURUSD pair initially fell during the day on Monday, but turned around to slam into the 1.10 level again.

This is an area that had been rather supportive recently, so it should now in theory be resistive.

Am waiting to see whether or not we get an exhaustive candle that we can start selling as the Euro will of course have quite a bit of negativity around it, because of all of the uncertainty when it comes to the European Union.

With this, I believe there will be a bit of a “safety run” towards the US dollar over time.

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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