The EURUSD pair initially fell during the course of the session on Thursday, testing the 1.35 level again. With that being the case, the market bounced high from the massive support area, thereby forming a candle that is essentially a hammer.

This candle of course is a buying opportunity and we believe that a break of the highs will more than likely send this market looking for the 1.3650 level, and then possibly the 1.37 level given enough time.

The 1.35 level should continue to be a bit of a “floor” in this market, thereby we will continue to buy as long as we can hold that level.

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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