Barring any surprises coming out of the German courts Wednesday, it appears the Euro does some room to run before the current upswing pauses. The Currency Shares Euro Trust (ticker FXE) is running into short-term resistance at present levels, as the trust price hits the May 21/22 swing point and hits resistance at the 200 day moving average.
I think it is likely the FXE will hit the $130 price level. The technicals on the chart are improving, as the RSI and MACD are in strong upward trends. In addition, today's pullback is on fairly light volume, which I think may just be the operators plumbing traders and investors if they will accept lower prices and on some profit taking.
I think it is likely the FXE will hit the $130 price level. The technicals on the chart are improving, as the RSI and MACD are in strong upward trends. In addition, today's pullback is on fairly light volume, which I think may just be the operators plumbing traders and investors if they will accept lower prices and on some profit taking.
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