The CurrencyShares Euro Currency Trust (NYSEArca: FXE) has been trading range bound through most of the year but has broken below its range on Aug. 22, signaling a potential long-term downtrend. FXE has shed 2% over the past month as European Central Bank President Mario Draghi gave overt hints the ECB is mulling its own quantitative easing regime. [Keep an Eye on These Currency ETFs]

Diverging central bank policies are supporting the continued appreciation in the U.S. dollar. The Federal Reserve stated that economic growth was strong enough to end the bond-purchasing program. Meanwhile, the European Central Bank is expected to further cut rates or implement a stimulus measure to bolster a faltering economy.

Consequently, long bets that the dollar will appreciate against the euro, yen and pound rose for the sixth consecutive week, according to the Commodity Futures Trading Commission

Investors are warming to the idea of a stronger U.S. dollar. Over the past month, UUP has added $43.5 million in new assets, a total bested by only four PowerShares ETFS, according to issuer data.

PowerShares DB US Dollar Index Bullish Fund