Euro ETF Gets a Continuation Signal
After consolidating for four weeks, the Euro ETF (FXE) is making a bid to continue its downtrend with a break below consolidation support. The bottom chart shows FXE forming a triangle after an extended decline. This is a consolidation within a downtrend and it represents a rest within that trend. Today's break signals a continuation of the long-term downtrend. The top chart shows the US Dollar ETF (UUP) making a bid to break triangle resistance and continue its uptrend.
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