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CurrencyShares Euro ETF Message Board

  • keybotthequant keybotthequant May 3, 2011 10:55 AM Flag

    XEU Chart and Technical Analysis

    XEU Chart and Commentary; the two-leg bull flags are shown:

    Remarkable run for the euro, the strength coming from Trichet's hawkish talk. Many times you will see a two-leg bull flag inside a larger two-leg bull flag. The blue pattern moved from 120 to 133, 13 difference, then after the sideways consolidation, started up again at 127, thus 127+13=140 target. Once 140 was achieved, price went into another sideways to sideways down consolidation, and started up again from 128. For the red flag, 120 to 140 is 20 diffference, thus 128+20=148 target, now achieved.

    This 148-150 should serve as a top for now. Considering the desire of the RSI to see another matching high, price should pull back, then head back up to these current levels again. ADX shows that the trend was stronger when the euro was selling off during 2010 then the up move now. The purple lines show negative divergence and want to see price fall. This chart will react to Trichet's press conference talk on Thursday morning. The long rally appears to be topping now and if the dollar bounces as the charts also show, that would be in concert with the euro falling.

    For XEU chart google keystone speculator or view at stockcharts public charts list keystone speculator.

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    • Here's an updated chart and commentary for the euro.

      Sorry I cannot link to the chart directly, if I do, it usually causes problems with YHOO, that is why I simply point to the link with text at the end of the post. The spammers and scammers ruined it for everyone. Simply google keystone speculator and the xeu chart will pop up. You can view any chart using the search box as well.

      XEU Chart and Commentary:

      Euro daily chart showing the potential two-leg bear flag pattern. If the pattern plays out, the consolidation move has just finished and the second leg down has started. The first leg was from 149 to 141, an 8 difference. Thus, after the consolidation flag, say the euro starts down again from 143. Thus, 143-8=135 target. This 134-135 area is also a strong sturdy horizontal support area which creates a confluence for price.

      142 was strong support that has just given way so more downside is expected. Also many gaps to fill below. RSI is under 50% which is bearish. Price is under both the 20 and 50 day MA's which is bearish. Watch to see if the 20 MA falls under the 50 MA, if so, the bear case and the two leg bear flag will be playing out. Projection is for the two leg bear flag pattern to play out with a target of 134-135.

      Monitor the following asset relationship; euro down=dollar up=commodities down=equities down=gold down=treasury price up (yields down).

      For the XEU chart google keystone speculator or view at stockcharts public charts list keystone speculator.

    • keybotthequ...

      The next time you update your post, would you please provide us with a link to your chart?

      I'm a visual person and would be most grateful if you would indulge me in this one request.

      Many thanks.

111.12+0.66(+0.60%)11:40 AMEST