The EURUSD pair failed to move again during the day on Tuesday, as we are simply grinding sideways.
We had a very impulsive move on Friday, but since then haven’t done much.
It appears the market is struggling with the 1.14 level, and as a result we may have to pull back a little bit in order to start buying again.
A pullback and a supportive candle could be a sign of value that the market is attracted to. Nonetheless, one thing that we can count on is going to be quite a bit of volatility.
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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