Wednesday, May 19, 2010

Euro stabilizes but FXE ETF still shows strong sell signal

The Euro has stabilized overnight, although European markets are in deep negative territory and the US futures are bleak today.

FXE is the most popular ETF that tracks the Euro. It still shows a very strong perfect sell (-100) sell signal:


The score is shown on the chart itself (tool by INO, access risk-free trial here). Fibonacci retracement levels are also shown, current values are way past them.

The Euro overnight:

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