EURUSD continued its downward movement from 1.1366 and the fall extended to as low as 1.1123.

Further decline is still possible after a minor consolidation, and next target would be at 1.1000 area.

Resistance is at 1.1210, only break above this level will indicate that the downtrend had completed at 1.1123 already, then the following upward movement could bring price back to 1.1500 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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