The EURUSD pair went back and forth during the course of the session on Monday as the referendum announcement in Greece came out.

Because of this, we tested the 1.10 level, but it did hold. Because of this, we are still bullish of the Euro, and believe that it’s only a matter of time before the market goes higher.

We think that as long as we stay above the 1.09 level, the Euro will continue to show a certain amount resiliency that cannot be ignored.

Nonetheless, expect quite a bit of volatility regardless.

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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