EURUSD Daily Analysis – May 5, 2014

EURUSD is now in uptrend from 1.3775.

euro2Further rise could be expected, and next target would be at 1.3950 area.

Support levels are at 1.3810 and 1.3775, only break below these levels could trigger another fall to1.3700 zone.

 

20140505_eurusd_1

 

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, 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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