The EURUSD pair broke down during the day on Thursday, forming an outside bearish candle.

This is a negative sign, but at the end of the day I think there’s plenty of support below so I actually and waiting for supportive candle in order to start going long.

At that point in time, I think we will try to make up and build up enough momentum to grind away towards the 1.15 handle.

Until then, expect a lot of volatility, but I think ultimately the buyers will step back in and take control.

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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