AMEX:FXE   Invesco CurrencyShares Euro Currency Trust
The EuroCurrency ETF is deeply oversold in a new, solid downtrend. The way to structure trades in this market is to wait for a rally back toward the low-risk RESISTANCE AREA marked on the chart from from 140-145. Enter shorts starting at 138, 138.50, 139, 139.50 and use a 143 stop initially. Once 136 is violated then reduce stops to 141. The fundamental backdrop of the European Banking System tells of dramatic over-leverage and inadequate equity capital underpinning its loans and that suggests that it is wise to move funds out of the currency of the region. Look for a continued, long term downtrend in the Euro and sell short the FXE when risk:reward is appropriate.

Subscribe to my indicator package KEY HIDDEN LEVELS $10/mo or $100/year and join me in the trading room KEY HIDDEN LEVELS here at

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.