Raff Regression Channel for the Euro ETF

Since peaking in late November, bounces in the Euro ETF (FXE) have been limited to three days. In fact, except for one 3-day bounce in late December, bounces have actually been 1-2 days. The Raff Regression Channel with extensions defines the current downtrend. A break above the upper extension is needed to even consider a reversal at this stage.

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