NEW YORK (TheStreet) -- The (FXE) - Get Report, the symbol for the Currency Shares Euro Trust ETF is at a technical crossroads. It would be nice to know what the euro will be doing ahead of one's European vacation, but the charts show no clear indication yet.

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After a significant decline, the FXE has traded sideways (see the chart above). The FXE has been testing the declining 40-week or 200-day moving average. A strong close above the moving average with a sharp increase in volume would suggest additional strength. On the other hand--a phrase we learned from economists--prices could fail and turn lower. There is an old saying that volume tends to precede price, but the On-Balance-Volume line on the FXE is pointed lower, suggesting further weakness ahead.

A weak euro or a strong dollar could be a problem for the equity markets in the weeks ahead, so put the FXE on your market-minder page.