The Greedy Trader Weekly Analysis
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Archive
- 3/8/2019
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Euro Currency Trust
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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range is oversold
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARLane's Stochastic and MACD bullish divergencePrice is near the Fibonacci 23.6% retracement levelThe price touches the lower Bollinger Band
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It was the negative week for the Euro Currency Trust (FXE). During the week, the FXE dropped -1.29 points, or -1.19%, and closed at 107.17 on Friday, March 8, 2019. Weekly volume was 14% above average.

Long-term trend: [See FXE long-term trend chart]
A long-term uptrend had started on January 3, 2017 at 100.46 and reached 120.65 on January 25, 2018. FXE gained -20.19 points, or -20.10%, in 55 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (126.88) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a long-term trend.

Medium-term trend: [See FXE medium-term trend chart]
A medium-term downtrend had started on January 25, 2018 at 120.65 and reached 106.67 on March 7, 2019. FXE lost 13.98 points, or 11.59%, in 58 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 106.40 and resistance is at 108.53. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See FXE weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 21, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See FXE short-term trend chart]
A short-term downtrend had started on March 1, 2019 at 108.87 and reached 106.67 on March 7, 2019. FXE lost 2.20 points, or 2.02%, in 6 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See FXE daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price touches the lower Bollinger Band. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.17
Williams' Percentage Range (W%R) 78.60
Lane's Stochastic (%D-Slow) 21.61
Bullish
Greed/Fear Indicator (GFI) 27.71
Moving Average Converg./Diverg. (MACD) -0.19 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.21
Williams' Percentage Range (W%R) 89.50
Oversold
Lane's Stochastic (%D-Slow) 25.24
Greed/Fear Indicator (GFI) 27.49
Moving Average Converg./Diverg. (MACD) -0.92
Trading Signals
Description Value Chart
Yearly Trendline Support 126.88
Upper Bollinger Band 109.07
50 Day Moving Average 108.67
Monthly Trendline Resistance 108.66
Quarterly Trendline Resistance 108.53
Parabolic System 108.21
20 Day Moving Average 108.05
Weekly Stochastic Crossing 107.40
Monthly Trendline Support 107.19
Lower Bollinger Band 107.17
Price 107.17
Daily Stochastic Crossing 107.10
Quarterly Trendline Support 106.40
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 108.87
High Date 03/01/2019
Low 106.67
Low Date 03/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 108.87
High Date 03/01/2019
Low 106.67
Low Date 03/07/2019
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Test Support
Resistance 108.66
Support 107.19
High 110.42
High Date 01/09/2019
Low 106.67
Low Date 03/07/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 108.53
Support 106.40
High 120.65
High Date 01/25/2018
Low 106.67
Low Date 03/07/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 135.10
Support 126.88
Low 100.46
Low Date 01/03/2017
High 120.65
High Date 01/25/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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