FXE Euro Daily Chart

FXE Euro daily chart showing the negative divergence spank down in October, then the positive divergence bounce in December, and then another negative divergence spank down in late January. For the last month the downward sloping channel was in place with lower lows and lower highs as shown by the black dots. Price jumped up and out of the top rail today and now sits at horizontal resistance.

The Euro tends to move inverse to the dollar index and in the same direction as U.S. equities but this relationship is shaky with all the geopolitical events occurring. Since the dollar index should bounce, especially on a presumed flight to safety, then the Euro should move down, but the news cycle these days is taking precedence. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.