The EURUSD pair broke higher during the course of the day on Tuesday, as we continue to bounce between the 1.11 level on the bottom, and the 1.13 level on the top.

Ultimately, we believe that the market continues to be very volatile, and as a result we have been standing on the sidelines when it comes to this particular pair.

With that being said, we look at the longer-term charts and recognize that the market continues to look bullish over the longer term. Once we eventually get above the 1.13 level, we think that the market should then go to the 1.15 level, which is the gateway to much higher levels.

In the meantime though, this is a very difficult market to deal with.

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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