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Ive been dealing with currency markets since Ive been writing in this blog but I have not been talking about them the way that most commentators do. The majority of currency market folks discuss the currency pairs – the forex market. I dont. I focus on the forex etfs. Why do I do this specific
Because I do not buy and sell the forex market. I may do that at some point in the future however this is not something I actually do right now. It is a much more specialized sort of trading. Ill be honest its intimidating. Not that setting up an Etrade or maybe Ameritrade account isnt overwhelming in its own right. But likely to Forex.com or perhaps FXCM.com and putting down money that could surely be a donation to the forex gods will not be something I want to do at the moment.
But will that mean that you should not really listen to people dealing with these markets of course not. If you want to trade or perhaps invest in the foreign exchange etfs you must know what is occurring in the major forex pairs. Nasti preteen gallery Why Because they trade very similar to these people. I have not included currency exchange pair charts within my writings because stockcharts.com does not offer all of them – or at least not to me as a free gift I could certainly be drastically wrong on that and in that case please let me know. We have included the currency exchange pair charts because of Google finance and also snagit software.
Case in point – the FXY and the UUP. Asia Yen etf plus the US Dollar bull etf have been preferred of mine. These are liquid and they behave as I think they should due to the news and technicals. Nevertheless do they behave like their particular currency pairs Very well that all depends on the happy couple.
I am certainly gonna upset some actual currency traders simply by limiting my concentration. This topic certainly deserves a more comprehensive analysis among every one of the currency pairs given it might offer understanding. However for now Let me have a limted view.
See the gallery below for your charts … images 1 thru 5
FXY the Japanese Yen exchange traded fund appears to follow strongly to its JPYUSD foreign currency pair. Much of the news is discussed about this pair in the inverse- together with the USDJPY also included in the art gallery – so you have to take that note.
UUP – the US money etf certainly wont follow the USDJPY pair – the charts are very different. However the particular USDEUR chart does have the symptoms of a similar price steps to the UUP.
So what does that tell us Whenever trading the FXY pay attention to the USDJPY news and when exchanging the UUP it pays to listen to how it is performing relative to the Euro.
Which is all great nevertheless what can you tell us with regards to these etfs now obtain sell hold
I figured youd never question.
see gallery beneath – images Six 7
FXY – that one is looking ominous — the 50 dma is getting ready to cross over the 190 dma in a bearish fashion. This kind of happened last year with minor consequences nevertheless this time it has further to fall. Id stay away
UUP – I favor the looks on this chart. Rising triangles get served me very well in the past. They have in addition failed – I need to see a break out previously mentioned 26 to the top level of resistance level before I truly get on board but I this way in general. Dont buy the idea yet but be mindful of it. Of course if this does fail it will be an opportunity to buy the FXE however Im not ready to claim that without more study.
Hmmm … so Ive gotten back into items and currencies to go with my stocks … appears like Ill have to look at Provides tonight

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