The EURUSD pair rose during the course of the session on Wednesday, but stays within the consolidation area that we’ve seen for some time.

Because of this, it appears that the market should continue to bounce around quite a bit, and as a result we feel that the market will more than likely chop around in this general vicinity.

In fact, it’s very possible that the summer range could be between the 1.35 level on the bottom, and the 1.37 level on the top.

With that being the case, short-term traders should continue to be happy, but any significant move will be difficult.

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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