The EURUSD pair broke higher during the course of the session, and as a result it appears that the market should continue
to fight in this area, and with that being said the uptrend line just below could continue to offer support.
Ultimately, we think that if we can break above the 1.11 level on a daily close, it’s time to start buying again.
On the other hand, if we break down below the 1.10 level on a daily close, we would start selling. Beyond that, it’s probably best to leave this market alone.
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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