The EUR/USD pair went back and forth during the course of the session on Monday, essentially going nowhere by the time the day ended. With that being the case, the market looks as if it isn’t going to go anywhere shortly, but we recognize that the 1.15 level above is massively resistive. Because of that, if we can break above there we think it is a longer-term “buy-and-hold” type of situation. Even we fall from here, we believe that the 1.13 level should be supportive, as it was previously resistive. The one thing you can count on though is going to be choppiness.
