The EURUSD pair rose slightly during the course of the day on Monday, but you have to keep in mind that the Americans were away for the Memorial Day holiday.

Because of this, the market would have lost quite a bit of volatility later in the day, so not too much can be gleaned from this action.

At this point in time, I still believe that rallies will offer selling opportunities above on exhaustive candles.

That’s exactly what am waiting for, just a little bit of an overexertion by the market in order to take advantage of the bearish pressure.

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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