The EUR/USD pair gapped lower at the open on Monday, but then turned back around to fill that gap. By filling that gap, we now look as if we are going to try to break out to the upside, but right now the market has been very choppy and has been consolidating between the 1.11 level and the 1.14 level above. As long as we continue to bounce around, we will buy dips, because we believe ultimately this market will break out to the upside but recognize that it is not a longer-term “buy-and-hold” type situation into we get above the 1.15 barrier.
