EURUSD pair did fall during the course of the day on Wednesday, but bounce significantly in order to form a bit of a hammer.

We continue to hang about the 1.34 level, and ultimately we believe that the real support is below, and much closer to the 1.33 handle.

With that, we are looking to sell any rallies, and think that this pair will continue to be negative for the time being.

However, we recognize that the nonfarm payroll numbers come out on Friday, so we could have a bit of slow trading during the session today.

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.

Content curiosity of FOREXCycle