The EURUSD pair fell again during the session on Friday, breaking the bottom of the candle from the Thursday session, showing us that the market should continue to go lower.

The 1.33 level below should be supportive though, and as a result we think that’s what the market is going to target.

Ultimately, the market will probably bounce from there, binds it certainly is in a negative attitude at the moment.

Any rally should continue to be a selling opportunity, unless of course we get back above the 1.3550 level, which would show a significant break of resistance.

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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