EURUSD remains in downtrend from 1.3905, the rise from 1.3790 could be treated as consolidation of the downtrend.

Further decline would likely be seen, and the target would be at 1.3750 area.

Resistance levels are at 1.3865 and 1.3905, only break above these levels could signal completion of the downtrend.

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, 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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