Don't Ignore This Chart!

Raff Regression Channel for the Euro ETF

Since peaking in late November, bounces in the Euro ETF (FXE) have been limited to three days. In fact, except for one 3-day bounce in late December, bounces have actually been 1-2 days. The Raff Regression Channel with extensions defines the current downtrend. A break above the upper extension is needed to even consider a reversal at this stage.

100224fxe Click this chart for details
Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at 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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