The EURUSD pair rose during the session on Tuesday, after the Germans printed better than anticipated numbers with the Services PMI announcement.

With this, we slammed into the 1.3950 area, but could not break above there.

However, we did keep most again so it appears that this market will more than likely try to breakout to the upside given enough time.

With the interest rate announcement on Thursday, we don’t feel that this market can breakout quite yet though, as there will be a lot of to be concerned about between here and there.

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, 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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