Trend: The US Dollar 50-day moving average moved up through its 200-day moving average on Sep 3, 2008.
The Bespoke Investment Group describes the dollar breaking through technical support levels at Seeking Alpha. One way to play this trend is the ETF UUP.
Link: U.S. Dollar Golden Cross - Seeking Alpha.
The US Dollar index has made a "golden cross" today, as its 50-day moving average has crossed above its 200-day moving average as both are rising. The "golden cross" is viewed as a positive by market technicians, as it is thought to signal a significant favorable turning point. Regardless of your thoughts on technical analysis, the chart below highlights a clear shift in the Dollar over the last few weeks.
Disclosure: We may own UUP at any time.
Comments