EURUSD's upward movement extended to as high as 1.2867.
Support is now at the rising trend line on 4-hour chart, as long as the trend line support holds, the uptrend could be expected to continue, and next target would be at 1.2950 area.
On the downside, a breakdown below the trend line support will indicate that the uptrend is complete, then another fall towards 1.2200 area could be seen.
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
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