The EURUSD pair fell significantly during the course of the session on Tuesday, but there is an uptrend line just below that should continue to keep this market somewhat supported.

With this, if we can break down below the uptrend line we would be sellers but until then have no interest in doing so.

We believe that this market will more than likely try to bounce from here, so looking towards short-term charts for supportive and positive impulsive candles could be the best way to go as far as going long.

A break below that aforementioned uptrend line would be extraordinarily bearish.

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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