Tuesday, May 12, 2009

Swiss Franc Trust ($FXF) leading Euro Trust ($FXE) with Breakout

Can't remember where I got this pairing from but I think it was Corey at AfraidtoTrade. When one breaks the other usually follows suit. We have a situation where the Swiss Franc Trust (FXF) has broken from its recent base; setting up a potential move to 101.15.

But it also augurs well for the Euro Trust (FXE) which has yet to emerge from its base. However, you can follow the action by saving this chart to your Zignals account here and creating an alert to go off on a Price Break of $137.41.

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Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, stock charts, watchlist, multi-currency portfolio manager and strategy builder website. Forex data available too.