Euro ETF Retraces 50% of its Prior Decline

The rally in the Euro Currency Trust (FXE) has been rather sharp, but the ETF has still only recovered half the prior loss. Notice how FXE declined from 142 to 126 (16 points) and then advanced to 134 (8 points). Like the October surge, this advance could be just a corrective rally in a bigger downtrend.

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