The EURUSD pair went back and forth during the course of the session on Friday, as we continue to hang about the 1.09 level.

That being the case, the market looks as if it does one to break down, as the 1.10 level has of course been very resistive.

If we can break down below the bottom of the range for the session on Friday, we should then head down to the 1.05 level, where there has been quite a bit of support in the past.

We have no interest in buying the Euro right now.

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.

Content curiosity of FOREXCycle