EURUSD broke above 1.2508 resistance, indicating that the downtrend from 1.2867 had completed at 1.2358 already.
Further rally would likely be seen, and next target would be at 1.2600 - 1.2650 area.
Support is at 1.2358, only break below this level could trigger another fall towards 1.2000.
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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