EURUSD is in consolidation of the downtrend from 1.2569 (Dec 16, 2014 high). Range trading between 1.1097 and 1.1650 is possible over the next several days.
Support is at 1.1097, 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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