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Uptrend SupportArchive
- 12/20/2024 -
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Euro Currency Trust (FXE) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Euro Currency Trust (FXE). During the week, the FXE gave back -0.56 points, or -0.58%, and closed at 96.31 on Friday, December 20, 2024. FXE was trading at average weekly trading volume.
 Long-term trend: [See FXE long-term trend chart]
A long-term downtrend had started on July 17, 2023 at 103.84 and reached 95.53 on December 18, 2024. FXE lost 8.31 points, or 8.00%, in 74 weeks. The price is now at the 9.39% retracement level.
Medium-term trend: [See FXE medium-term trend chart]
A medium-term downtrend had started on September 25, 2024 at 103.54 and reached 95.53 on December 18, 2024. FXE lost 8.01 points, or 7.74%, in 12 weeks. The price is now at the 9.74% retracement level.
 Weekly Technical Indicators: [See FXE weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 11, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 November 27, 2024 at 97.78 and reached 95.53 on December 18, 2024. FXE lost 2.25 points, or 2.30%, in 21 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 95.36 and resistance is at 97.64. 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See FXE daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.
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.
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