FXE pushes through 50-day moving average


CurrencyShares Euro ETF (FXE) Technical Analysis Report for Apr 16, 2018 [< 1 min read]
Highlights
FXE pushes through 50-day moving average
FXE closes higher for the 2nd day in a row
FXE pushes through previous session high
FXE rises to highest close since March 27th
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

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 chart for FXE
Volatility

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.

Support/Resistance

Prices are trading close to a key support level at 118.74.

Trend

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.

Order Flow

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.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for CurrencyShares Euro ETF
ConditionForecastDirectionWinAvgWorstBestEvents
Very Strong Up Move TQ Pro Members Only
Bullish Break through SMA 20 TQ Pro Members Only
RSI(2) above 80 TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Strong Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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Latest Report:

FXE rallies 0.78% on high volume

Jul 20, 2018
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