CurrencyShares Euro ETF Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Evaluation of CurrencyShares Euro ETF downgraded after the last trading session.
(Updated on Apr 26, 2024)
The CurrencyShares Euro ETF price fell by -0.252% on the last day (Friday, 26th Apr 2024) from $99.15 to $98.90. During the last trading day the ETF fluctuated 0.355% from a day low at $98.67 to a day high of $99.02. The price has fallen in 6 of the last 10 days but is still up by 0.68% over the past 2 weeks. Volume fell on the last day along with the ETF, which is actually a good sign as volume should follow the ETF. On the last day, the trading volume fell by -21 thousand shares and in total, 19 thousand shares were bought and sold for approximately $1.88 million.
The ETF is moving within a narrow and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect CurrencyShares Euro ETF with a 90% probability to be traded between $97.06 and $99.68 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and ETFS seldom manage to go directly from the bottom of a trend up to the top. ETFS turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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FXE Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 0.81%. Further rise is indicated until a new top pivot has been found. Some negative signals were issued as well, and these may have some influence on the near short-term development. The CurrencyShares Euro ETF holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the ETF giving a more negative forecast for the stock. On further gains, the ETF will meet resistance from the long-term Moving Average at $99.66. On a fall, the ETF will find some support from the short-term average at $98.71. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for CurrencyShares Euro ETF
CurrencyShares Euro finds support from accumulated volume at $98.88 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the ETF tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the ETF moved $0.350 between high and low, or 0.355%. For the last week the ETF has had daily average volatility of 0.339%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (FXE) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect CurrencyShares Euro ETF to open at $98.86, and during the day (based on 14 day Average True Range), to move between $98.48 and $99.31, which gives a possible trading interval of +/-$0.419 (+/-0.42%) up or down from last closing price. If CurrencyShares Euro ETF takes out the full calculated possible swing range there will be an estimated 0.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $98.88 (0.02%) than the resistance at $99.04 (0.15%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is CurrencyShares Euro ETF ETF A Buy?
CurrencyShares Euro holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this ETF. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this ETF since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -2.677 Sell Candidate Downgraded
Predicted Opening Price for CurrencyShares Euro ETF of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $98.86 ( 0.0337%) | $98.90 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for FXE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 99.21 | 0.320 % | |
| R2 | 99.08 | 0.185 % | ||
| R1 | 99.00 | 0.101 % | ||
| Current price: | 98.90 | |||
| Support | S1 | 98.73 | -0.169 % | |
| S2 | 98.65 | -0.252 % | ||
| S3 | 98.51 | -0.388 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 100.02 | 1.14 % | |
| R2 | 100.01 | 1.12 % | ||
| R1 | 99.04 | 0.147 % | ||
| Current price | 98.90 | |||
| Support | S1 | 98.88 | -0.0152% | |
| S2 | 98.58 | -0.319% | ||
| S3 | 98.23 | -0.672% |
FXE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 19, 2024 | Apr 01, 2024 | Apr 08, 2024 | $0.197 | 0.197% |
| 2 | Feb 19, 2024 | Mar 01, 2024 | Mar 08, 2024 | $0.185 | 0.183% |
| 3 | Jan 31, 2024 | Feb 01, 2024 | Feb 08, 2024 | $0.198 | 0.199% |
| 4 | Jan 02, 2024 | Jan 02, 2024 | Jan 02, 2024 | $0.202 | 0.200% |
| 5 | Dec 01, 2023 | Dec 01, 2023 | Dec 01, 2023 | $0.193 | 0.192% |
FAQ
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