Ive been talking about currency markets since I have already been writing in this blog but I have not been referring to them the way that almost all commentators do. Nearly all currency market folks focus on the currency frames – the forex market. I wouldnt. I focus on the currency etfs. Why do I do this particular
Because I do not deal the forex market. I may do this at some point in the future yet this is not something I really do right now. It is a additional specialized sort of buying and selling. Ill be honest its intimidating. Not that setting up an Etrade or even Ameritrade account isnt intimidating in its own right. But about to Forex.com or maybe FXCM.com and putting down money that may surely be a monetary gift to the forex gods will not be something I want to perform at the moment.
But will that mean that you should not listen to people referring to these markets absolutely not. If you want to trade or invest in the foreign currency etfs you must know what is going on in the major foreign exchange pairs. Why Simply because trade very similar to these. I have not included forex pair charts inside my writings because stockcharts.net does not offer these individuals – or at least never to me as a free stuff I could certainly be incorrect on that and if thats so please let me know. Published news upcoming news submit a new story groups japanese writing Weve included the currency exchange pair charts as a result of Google finance and snagit software.
Case in point – the FXY and the UUP. Okazaki japan Yen etf and the US Dollar half truths etf have been preferred of mine. They may be liquid and they work as I think they should due to the news and technicals. Although do they behave like the currency pairs Effectively that all depends on the pair.
I am certainly likely to upset some authentic currency traders simply by limiting my concentration. This topic evidently deserves a more full analysis among every one of the currency pairs because it might offer insight. However for now Ill have a limted view.
See the gallery below to the charts … images One thru 5
FXY – the Japanese Yen exchange traded fund appears to follow closely to its JPYUSD currency pair. Much of what is the news is discussed about this pair in the inverse- with the USDJPY also included in the gallery – so you will have to take that into account.
UUP – the US etf certainly wont follow the USDJPY pair the charts are incredibly different. However the particular USDEUR chart does have the symptoms of a similar price motion to the UUP.
So what can that tell us While trading the FXY pay attention to the USDJPY news and when dealing the UUP it pays to be handled by how it is performing compared to the Euro.
That is all great however what can you tell us in relation to these etfs now acquire sell hold
I believed youd never ask.
see gallery below – images Half-dozen 7
FXY – this is looking ominous space the 50 dma is getting ready to cross over the 2 hundred dma in a bearish fashion. This particular happened last year with minor consequences yet this time it has a greater distance to fall. Id stay away
UUP – I favor the looks with this chart. Rising triangles include served me nicely in the past. They have also failed – I have to see a break out earlier mentioned 26 to the top level of resistance level before I actually get on board but I similar to this in general. Dont buy that yet but be mindful of it. Of course whether it does fail it may be an opportunity to buy the FXE however Im not ready to claim that without more study.
Hmmm … so Weve gotten back into commodities and currencies to select my stocks … seems as if Ill have to look at Bonds tonight
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