EURUSD stays in the upward price channel on daily chart, and remains in short term uptrend from 1.0462.

Further rise to re-test 1.1533 resistance is possible next week, a break of this level will confirm that the long term downtrend from 1.3993 (May 8, 2014 high) had completed at 1.0462 already, then the following upward movement could bring price to 1.3000 area.

Support is at 1.0819, only break below this level could trigger another fall towards 1.0000.

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