USD index starts an uptrend – 10.08.2014

The USD index starts a new uptrend with a strong initial push above the 200-day moving average and reaching new short-term highs. It is possible that it will experience a pullback but it looks well positioned for a new leg up. You can trade this idea using UUP, USD dollar bullish currency ETF, or select some currency pairs or their respective ETFs.

I like FXA (Australian dollar) short,  FXC (Canadian dollar) short, FXE (EUR) short and FXS (swedish krona) short.


AUDUSD currency – possible return of downtrend

The AUDUSD currency pair looks like it ended its correction pullback move to 0.94 – 0.95 area and could return to downtrend move again.



It is possible to trade this idea also using ETF with symbol FXA. A breakdown below the 200-day moving average could be an entry trigger for this short sell trade.