EURUSD Daily Analysis – June 30, 2014

EURUSD is facing 1.3651 resistance, a break above this level will signal resumption of the short term uptrend from 1.3512, then further rise to test 1.3676 key resistance could be seen.

Inverse-short-euro-etfSupport is at 1.3564, only break below this level will indicate that the uptrend had completed at 1.3651 already, then the following downward movement will bring price back to test 1.3502 support.

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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