The Euro ETF (FXE) formed a large triangle after a sharp decline and this pattern could be just a big rest within a bigger downtrend. After falling some 25% in one year, FXE found support in March 2015 and moved sideways the last 20 months. This sideways pattern looks like a massive triangle consolidation that could be considered a continuation pattern. This means it represents a rest after the big decline. A break below triangle support would resolve this pattern and signal a continuation of the bigger decline. Within the pattern, the Euro broke upswing support with a sharp decline in May-June and is nearing a big test of support. The indicator window shows the US Dollar ETF (UUP) challenging the upper trend line of a falling channel.
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