EURUSD stays in the upward price channel on daily chart, and remains in uptrend from 1.0517.

Key support is now at 1.1097, as long as this level holds, the uptrend could be expected to continue and next target would be at 1.2000 area.

On the downside, a breakdown below 1.1097 support level will indicate that the uptrend had completed at 1.1616 already, then the following downward movement could bring price back to 1.0000 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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