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dorfmanmaster

Euro Currency at KEY level

Invesco CurrencyShares Euro Currency Trust (AMEX:FXE)  
dorfmanmaster  
AMEX:FXE   Invesco CurrencyShares Euro Currency Trust
Trend Analysis Chart Patterns Fundamental Analysis Gold eurodollar euro currency DJ FXCM Index emergingmarkets correlation Commodities BTCUSD
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trendanalysis chartpattern fundamental gold eurodollar euro currency usdollar emergingmarkets correlation commodities btcusd
The $Euro has stayed above the orange level, around $109, for a year. We have seen several tests of this level (shown by the purple arrows).

Why does it matter?
1. The US dollar has an inverse correlation with the Euro as well as Gold.

2. A strong US dollar negatively affects international equity (such as Europe and Emerging Markets).

3. A weak dollar generally creates a bullish scenario for commodities.

4. Gold has a slightly negative correlation to Bitcoin. Currently at -0.5

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