Trading Currency Made Easy With ETF’s

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June 15, 2009 9:41am ETF BASIC NEWS NYSE:FXE

currenciesDon Dion from TheStreet.com reports that, “One investment made easier by the ETF boom is currency. CurrencyShares was first to market with the CurrencyShares Euro Trust (FXE), and it has added a number of additional products. Recently, the CurrencyShares Russian Ruble ETF (XRU) was introduced.”


“Earlier today, during the BRIC conference, Russia’s finance minister had positive things to say about the U.S. dollar, and the greenback went on to rally against currencies and commodities. The PowerShares DB U.S. Dollar Bullish Fund (UUP) will gain early, thanks to this move, though it may fade during U.S. trading,” Continues Don Dion.

“The anti-U.S. dollar trade has been successful during the stock market rally, and it is an extremely popular trade. The dollar may drop a bit further, but at this point, the risk-to-reward ratio is tilted in favor of the dollar bulls,” Reports Don Dion. 

ETF DAILY NEWS TAKE:  With the ease of trading currencies through ETF’s, it will make the currency market more volatile.

Full Story: HERE


We ran these 3 currency ETF’s through the market club software and found the following results from their chart analysis program:

 
POWERSHARES DB USD BULL (PACF:UUP)
Smart Scan Chart Analysis indicates a counter trend rally is underway. It also indicates that the current down trend could be changing and moving into a trading range Sidelines Mode.

Based on a pre-defined weighted trend formula for chart analysis, UUP scored -55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

     
+10 Last Hour Close Above 5 Hour Moving Average
+15 New 3 Day High on Monday
+20 Last Price Above 20 Day Moving Average
-25 New 3 Week Low, Week Ending June 6th
-30 New 3 Month Low in June
-55 Total Score
 
CURRENCYSHARES RUSSN RBL (PACF:XRU)
Smart Scan Chart Analysis is showing some near term weakness. However, this market remains in the confines of a longer term uptrend Uptrend with tight money management stops.

Based on a pre-defined weighted trend formula for chart analysis, XRU scored +75 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

     
-10 Last Hour Close Below 5 hour Moving Average
-15 New 3 Day Low on Monday
+20 Last Price Above 20 Day Moving Average
+25 New 3 Week High, Week Ending June 6th
+30 New 3 Month High in June
+75 Total Score
 
CURRENCYSHARES EURO ETF (PACF:FXE)
Smart Scan Chart Analysis indicates a counter trend rally is underway The current up-trend could be changing and moving into a trading range Sidelines Mode.

Based on a pre-defined weighted trend formula for chart analysis, FXE scored +55 on a scale from -100 (strong downtrend) to +100 (strong uptrend):

     
-10 Last Hour Close Below 5 hour Moving Average
-15 New 3 Day Low on Monday
-20 Last Price Below 20 Day Moving Average
+25 New 3 Week High, Week Ending June 6th
+30 New 3 Month High in June
+55 Total Score

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