During a particularly line session on Monday, the EURUSD pair went nowhere. With that, we feel that the market really hasn’t told his much but we understand that the downside is most certainly favored at this point.

After all, there’s no real opportunity for buying the Euro, especially considering how weak it has been recently.

With that, we are selling the Euro every time it rallies and we believe that the bearish pressure will continue on a Euro as the ECB will almost have to loosen its monetary policy a bit going forward, as the European Union is facing deflation.

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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