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Bearish Moving Average Cross by CurrencyShares Euro Trust (FXE)

By David Diaz

Today, shares of CurrencyShares Euro Trust (NYSE:FXE) have fallen below their 10-day MA of $111.83 on a volume of 202K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, shares of CurrencyShares Euro Trust have traded between a low of $110.31 and a high of $137.87 and are now at $111.72, which is 1% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of CurrencyShares Euro Trust on June 9th, 2014 by issuing a Downtrend alert when the shares were trading at $134.13. Since that call, shares of CurrencyShares Euro Trust have fallen 16.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses currencyshares euro trust

Ticker(s): FXE