EURUSD broke above the upper line of the price channel on 4-hour chart, indicating that the downtrend from 1.2994 had completed at 1.2570 already.
Further rally would likely be seen in a couple of days, and next target would be at 1.2800 area.
Support is at 1.2570, only break below this level could trigger another fall to 1.2400 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.
Content curiosity of FOREXCycle
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