The EURUSD pair went higher during the course of the session on Tuesday, trying to break above the 1.14 level again.

This is an area that has caused quite a bit of resistance previously, so it’s not a surprise that we failed. However, if we break above the top of the range of the session on Tuesday, we feel this market will then reach towards the 1.15 level.

That is an area that is massively resistive, so we believe that a break above there could in fact be a trend change.

We have no interest whatsoever in selling at the moment, and believe that pullbacks will continue to offer buying opportunities.

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