Currencyshares Euro Trust FXE Investment Analysis and Advice

August 17, 2022, 13:00 pm ET, BY Allen K.- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Prudent Investment Analysis requires observations of the support and resistance levels for Currencyshares Euro Trust (NYSE: FXE) too.  These define prudent trading plans.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for FXE change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if FXE is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for FXE too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for FXE

• Buy FXE slightly over 93.03 target 94.99 stop loss @ 92.76 Details

The technical summary data tells us to buy FXE near 93.03 with an upside target of 94.99. This data also tells us to set a stop loss @ 92.76 to protect against excessive loss in case the stock begins to move against the trade. 93.03 is the first level of support below 93.92 , and by rule, any test of support is a buy signal. In this case, support 93.03 would be being tested, so a buy signal would exist.

• Short FXE under 94.99, target 93.03, stop loss @ 95.26 Details

The technical summary data is suggesting a short of FXE as it gets near 94.99 with a downside target of 93.03. We should have a stop loss in place at 95.26though. 94.99 is the first level of resistance above 93.92, and by rule, any test of resistance is a short signal. In this case, if resistance 94.99 is being tested, so a short signal would exist.

Swing Trading Plans for FXE

• Buy FXE slightly over 94.08, target 95.06, Stop Loss @ 93.81 Details

If 94.08 begins to break higher, the technical summary data tells us to buy FXE just slightly over 94.08, with an upside target of 95.06. The data also tells us to set a stop loss @ 93.81 in case the stock turns against the trade. 94.08 is the first level of resistance above 93.92, and by rule, any break above resistance is a buy signal. In this case, 94.08, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FXE near 94.08, target 93.03, Stop Loss @ 94.35. Details

The technical summary data is suggesting a short of FXE if it tests 94.08 with a downside target of 93.03. We should have a stop loss in place at 94.35 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 94.08, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for FXE

• Buy FXE slightly over 94.08, target 95.10, Stop Loss @ 93.86 Details

If 94.08 begins to break higher, the technical summary data tells us to buy FXE just slightly over 94.08, with an upside target of 95.10. The data also tells us to set a stop loss @ 93.86 in case the stock turns against the trade. 94.08 is the first level of resistance above 93.92, and by rule, any break above resistance is a buy signal. In this case, 94.08, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short FXE near 94.08, target 93.03, Stop Loss @ 94.3. Details

The technical summary data is suggesting a short of FXE if it tests 94.08 with a downside target of 93.03. We should have a stop loss in place at 94.3 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 94.08, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

FXE Ratings for August 17:

Term →	Near	Mid	Long
Rating	Neutral	Neutral	Weak
P1	0	0	93.03
P2	94.00	94.08	94.99
P3	95.10	95.06	97.08

Support and Resistance Plot Chart for FXE

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