The EURUSD pair fell initially during the course of the day on Tuesday, but found enough support near the 1.12 level to turn things back around and form a hammer.

Because of this, the market looks as if it is ready to continue to try to get to the 1.15 level.

Above there, we feel that it is a bit of a trend change, and as a result it is a “buy-and-hold” type of situation then. We believe that in the meantime that anytime this market pulls back it is in fact a buying opportunity.

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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