U.S. Dollar Stages Major Comeback Against The Euro (UUP)

Share This Article
May 11, 2018 5:53am NYSE:UUP

NYSE:UUP | News, Ratings, and Charts

From Chris Kimble: After a couple years of gloom, the U.S. Dollar is setting up for a nice rally. And this could spell trouble for the Euro.


The buck stops here! As the reserve currency, the U.S. Dollar wields some power in the currency market. And a strengthening dollar will likely put more pressure on the Euro.

We can see this already occurring in today’s chart 2-pack.

On the left, we can see the U.S. Dollar breaking out of a bullish declining wedge pattern (1). This should lead to more upside.

Meanwhile, the Euro kissed the underside of a “broken” wedge pattern – resistance at (2). The Euro was rejected swiftly… will this lead to more downside? As I wrote about last week, this is deja vu for the Euro!


The PowerShares DB US Dollar Index Bullish (UUP) fell $0.01 (-0.04%) in premarket trading Friday. Year-to-date, UUP has gained 1.37%, versus a 1.93% rise in the benchmark S&P 500 index during the same period.

UUP currently has an ETF Daily News SMART Grade of B (Buy), and is ranked #12 of 17 ETFs in the Currency ETFs category.


This article is brought to you courtesy of Kimble Charting Solutions.


9 "MUST OWN" Growth Stocks For 2021

Read Next



Free Investing Ideas Newsletter!

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

Most Popular



7 Best ETFs for the NEXT Bull Market

Explore More from ETFDailyNews.com

Free Investment Newsletter

Join over 70,000 investors who get the latest insights and top rated picks from our free investment newsletter.

ETFDailyNews.com respects your privacy.

Best ETFs

We've rated and ranked nearly 2,000 ETFs and ETNs using our proprietary SMART Grade system.

View Top Rated ETFs

Best Categories

We've ranked dozens of ETF categories based on relative performance.

Best ETF Categories