EURUSD moved sideways in a trading range between 1.2358 and 1.2599.
The price action in the range is likely consolidation of the downtrend from 1.2867, another fall to 1.2000 area is still possible after consolidation.
Support is at 1.2358, a breakdown below this level could signal resumption 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 (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
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