EURUSD broke below the upward price channel on 4-hour chart, indicating that consolidation of the uptrend is underway.
Range trading between 1.1000 and 1.1141 would likely be seen over the next several days.
As long as 1.1000 support holds, the uptrend could be expected to resume, and another rise towards 1.1300 could be seen after consolidation.
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
You must be logged in to post a comment.