The Euro Currency Trust (FXE) seems to like what it heard from Fed Chairman Bernanke – and the Dollar did not like it. After dipping below 143 in the morning, FXE surged above 144 by mid day. The ETF is still just shy of a breakout. Look for a move above the July-August highs to break resistance.
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About the author:
Arthur Hill, 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.
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