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Bearish Moving Average Cross by CurrencyShares Euro Trust (FXE)

By David Diaz

CurrencyShares Euro Trust (NYSE:FXE) shares have crossed bearishly below their 10-day moving average of $111.17 on a volume of 165K shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, CurrencyShares Euro Trust share prices have been bracketed by a low of $103.36 and a high of $114.81 and are now at $110.18, 7% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.3%.

SmarTrend is tracking the current trend status for CurrencyShares Euro Trust and will alert subscribers who have FXE in their portfolio or watchlist when shares have changed trend direction.

Keywords: moving crosses currencyshares euro trust

Ticker(s): FXE