The FXE(Euro Currency) is trading lower this morning by 0.48 cents to $131.97. This move lower comes as the U.S. Dollar Index is bouncing higher today. Since the stock markets began their rally in early July the Dollar has declined sharply and the Euro has risen significantly. The FXE will have intra-day support around the $131.70 – $131.60 area. This is the best spot for an intra-day bounce on the FXE. Today is a light volume trading session ahead of the FOMC meeting tomorrow. Therefore, we can not expect much.
