EURUSD stays above the upward trend line on 4-hour chart, and remains in uptrend from 1.2500.

As long as the trend line support holds, the fall from 1.2867 could be treated as consolidation of the uptrend.

Another rise could be expected after consolidation, and next target would be at 1.2950 area.

On the downside, a clear break below the trend line support will signal completion of the uptrend, then the following downward movement could bring price to 1.2000 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.

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