EURUSD is facing 1.2698 resistance, a break of this level will indicate that the downtrend from 1.2994 had completed at 1.2500 already, then further rise to 1.2850 area could be seen.
On the downside, as long as 1.2698 resistance holds, the rise from 1.2500 would possibly be consolidation of the downtrend, another fall to 1.2200 area is still possible.
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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