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After a strong run up off the summer lows, CurrencyShares Euro ($FXE) is now consolidating in a tight range above the 200-day moving average. $FXE should continue to set higher swing lows within the base, which would be a bullish sign. In terms of moving average confirmation, although we would prefer to see the 50-day MA above the 200-day MA, the 50-day MA is sloping higher over the past month. We will continue to monitor the action over the next few days for low risk entry point.

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