Don't Ignore This Chart!

Euro Approaches Resistance Zone

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The Euro ETF (FXE) has been red hot with a move from around 125 in early March to 141 in late May. Interestingly, the rise in the Euro coincides with a rise in stock over this same period. FXE is fast approaching a resistance zone around 142.5-145. This zone stems from broken support and the December 2008 high.

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Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
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