MaxxPayme
Long

UUP Monthly - Major moving average confluence for $DX_F ETF

AMEX:UUP   INVESCO DB US DLR INDEX TR BULLISH FD ETF
Monthly chart for the US Dollar index ETF is currently about to have a major crossover of the 10/20/50 MONTH moving averages. Currently they are basically on top of each other at the $22 level.

Price is riding the upper monthly Bollinger Band and the bands are flaring away from each other which shows the strength in the move and tells of expanding volatility .

The presumption shown from this chart is that the US Dollar will continue to show long term strength and until proven otherwise should be played from the long side against other currencies.
I like this chart. Thanks!
+1 Reply
MaxxPayme Will Wong
Most welcome Will. I have been tracking the Dollar index for a while now and have been trading the UUP on and off since last year. This chart should keep you on the right side of the trade.

Good luck!
Reply
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