EURUSD remains in downtrend from 1.3411, further decline would likely be seen after a minor consolidation, and next target would be at 1.3000 area.
Near term resistance is located at the upper line of the price channel on 4-hour chart, as long as the channel resistance holds, the downtrend will continue.
Key resistance is at 1.3220, only break above this level could signal completion of the downtrend.
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
You must be logged in to post a comment.