The EURUSD pair went back and forth during the course of the session on Thursday, as we continue to bounce around the 1.10 level.

This is an area that has been very supportive recently, and of course the bottom of the overall consolidation area.

I do think that eventually we break down though, so move below the bottom of the range for the Thursday session has me selling this pair. Any rally at this point in time should be a selling opportunity given enough time and signs of exhaustion. With this, I have no interest in buying.

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.

Content curiosity of FOREXCycle