EURUSD moved sideways in a narrow range between 1.3586 and 1.3668.
The price action in the range is likely consolidation of the downtrend from 1.3993.
As long as 1.3668 resistance holds, the downtrend could be expected to resume, and next target would be at 1.3500 area.
On the upside, a break above 1.3668 resistance will indicate that the downtrend had completed at 1.3586 already, then the following upward movement could bring price to 1.4000 zone.
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
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