The EURUSD pair fell just a bit during the course of the session, testing the 1.10 level.

If we can close below the level on the daily chart, we would be sellers as the market should then reach towards the 1.08 handle.

On the other hand, if we break back above the 1.1050 level, we would be buyers as it should show the market continuing the uptrend and the breakout that we had recently seen.

We will use the daily close to make any trades though, so we are not going to jump into this until the end of the session.

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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