Thursday, July 31, 2008

30jul08 - FXE shows the way for UUP Play


the recent strength of the U.S. dollar
CurrencyShares Euro Trust (FXE) was about to break below major support of its 50-day MA
a break of major support in FXE would cause PowerShares U.S. Dollar Index (UUP) to conversely break out above its recent consolidation. That's exactly what happened yesterday, which triggered our long entry into UUP. The UUP breakout is shown on the chart below


No comments: