EURUSD Daily Analysis – July 7, 2014

EURUSD's downward movement from 1.3700 extended to as low as 1.3580. EuroDollars

Further decline could be expected, and next target would be at 1.3500 area.

Resistance levels are at 1.3650 and 1.3700, only break above these levels could trigger another rise to 1.3800 zone.

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.

 

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