EURUSD is now in downtrend from 1.2569, and the fall extended to as low as 1.2166.
Further decline could be expected after a minor consolidation, and next target would be at 1.2000 area.
Resistance is at 1.2250, only break above this level will indicate that consolidation of the downtrend is underway, then the following upward movement could bring price to 1.2400 area.
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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