The EURUSD pair rose during the course of the day on Monday, as we see quite a bit of support at the 1.1150 level.

This is a market that should continue to grind higher, and as a result we should then reach towards the 1.13 level above.

Pullbacks continue to have quite a bit of support, as there is quite a bit of bullish pressure due to the fact that the Federal Reserve now looks very likely to step away from several interest-rate hikes later this year.

We have no interest in selling and believe that the 1.1050 level below is massively supportive

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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