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Advanced TA SearchArchive
- 4/5/2024 -
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Euro Currency Trust (FXE) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a first positive week after 3 consecutive negative weeks for the Euro Currency Trust (FXE). During the week, the FXE climbed 0.31 points, or 0.31%, and closed at 100.02 on Friday, April 5, 2024. Weekly volume was 30% above average.
 Long-term trend: [See FXE long-term trend chart]
A long-term downtrend had started on January 25, 2018 at 120.65 and reached 88.39 on September 27, 2022. FXE lost 32.26 points, or 26.74%, in 243 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 81.02 and resistance is at 110.59. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See FXE medium-term trend chart]
A medium-term uptrend had started on September 27, 2022 at 88.39 and reached 103.84 on July 17, 2023. FXE gained -15.45 points, or -17.48%, in 41 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (100.42) 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 medium-term trend.
 Weekly Technical Indicators: [See FXE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 22, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See FXE short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 98.83 and reached 101.22 on March 13, 2024. FXE gained -2.39 points, or -2.42%, in 29 days. The price is now at the 50.21% retracement level.
Daily Technical Indicators: [See FXE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 Lane's Stochastic help.
The daily MACD line is below its signal line since March 18, 2024. The distance between MACD and the signal line is low and getting smaller.
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 is close to the moving average in the center of the Bollinger Bands. 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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