The EURUSD pair rally during the day on Tuesday, reaching towards the 1.07 level.

It now looks as if we can break above the top of the daily range, the market should then reach towards the 1.0750 level above.

Expect volatility, that’s a mainstay in this pair anyway, and as a result expect a lot of choppy back and forth type of trading.

I think it’s going to be a most impossible to take a longer-term position in this market, but it does seem to have a little bit of a tilt to the upside.

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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