This is a follow-up to
my post yesterday regarding the U.S. Dollar index. It's beginning to look like a bearish flag formation taking shape (following the H&S pattern). Being that I don't have a forex account, nor a futures account, to take a position in this set-up I'm left trying to figure out other ways to take advantage of what might be a measured move to the downside for the U.S. Dollar Index. Here's what I came up with; First a chart of the current U.S. Dollar Index position:
Some vehicles to look into for a play on futures or forex are available through such places as
invescopowershares. The first is
DBV; it "is comprised of currency futures contracts on certain G10 currencies and is designed to exploit the trend that currencies associated with relatively high interest rates, on average, tend to rise in value relative to currencies associated with relatively low interest rates." Looks like a potential break-out candidate.
There's also
UDN; "designed to replicate the performance of being short the US Dollar" against a basket of currencies like that of the U.S. Dollar Index.
Not as much bang for your buck as directly playing futures or forex (I really have to open one account or the other), but a viable option. If I come across any other options I'll update this post with them.
Some vehicles to look into for a play on futures or forex are available through such places as invescopowershares. The first is DBV; it "is comprised of currency futures contracts on certain G10 currencies and is designed to exploit the trend that currencies associated with relatively high interest rates, on average, tend to rise in value relative to currencies associated with relatively low interest rates." Looks like a potential break-out candidate.
There's also UDN; "designed to replicate the performance of being short the US Dollar" against a basket of currencies like that of the U.S. Dollar Index.
Not as much bang for your buck as directly playing futures or forex (I really have to open one account or the other), but a viable option. If I come across any other options I'll update this post with them.
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