The EURUSD pair initially fell during Monday, but found a bit of support below to bounce and form a hammer.

The hammer of course is a bullish sign, and with this we look at this pair as one that should continue to go higher, but it might be a grind, and will be relentless overall.

The market should have plenty of support near the 1.13 handle, so we think pullbacks will be opportunities to start buying based upon value in the Euro.

The Federal Reserve looks as if they are stepping away from interest hikes – at least some of them this year.

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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