FXE pushes through 50-day moving average
CurrencyShares Euro ETF (FXE) Technical Analysis Report for Apr 16, 2018 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, FXE finished Monday at 118.94 gaining $0.35 (0.3%). Today's closing price of 118.94 marks the highest close since March 27th. Closing above Friday's high at 118.65, the market confirms its breakout through the previous session's high having traded $0.47 above it intraday.
Daily Candlestick Chart (FXE as at Apr 16, 2018):
Monday's trading range was $0.28 (0.24%), that's below last trading month's daily average range of $0.40. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
Prices are trading close to a key support level at 118.74.
The ETF shows strength in the short-term supported by its long-term uptrend with only the medium-term trend being bearish. FXE managed to break above the 50-day moving average at 118.62 today for the first time since April 10th.
Buying might speed up should prices move above the nearby swing high at 119.13 where further buy stops could get activated. Further buying might move prices higher should the market test March's close-by high at 119.81.