Make A Buck On The Rising Euro with “FXE” ETF
Posted on Wednesday, May 27th, 2009 | In Exchange Traded Funds, Market Commentary
The euro has jumped in value against the dollar since March, and the charts still sound the all-clear for euro bulls.
“Momentum precedes price” is a mantra used by many technical analysts to spot early trend changes in a stock, commodity, bond or even currencies.
Over the last year, measuring the euro’s changing momentum could have helped many investors conserve capital or even profit from the currency’s changing trend.
The first chart below displays a chart of the CurrencyShares Euro (FXE) exchange-traded fund (ETF). This currency-tracking stock reflects the euro’s changes as it appreciates and depreciates against other foreign currencies. Momentum, in this case, is measured using the two-line moving average convergence-divergence indicator. We could say that the MACD measures the trend’s underlying strength.
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