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Bullish Moving Average Cross by CurrencyShares Euro Trust (FXE)

By Amy Schwartz

CurrencyShares Euro Trust (NYSE:FXE) crossed over its 10-day moving average of $104.36 on a volume of 1.2 million shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, CurrencyShares Euro Trust share prices have been bracketed by a low of $102.92 and a high of $123.43 and are now at $106.40, 3% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of CurrencyShares Euro Trust on September 22nd, 2015 by issuing a Downtrend alert when the shares were trading at $109.18. Since that call, shares of CurrencyShares Euro Trust have fallen 4.8%. 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