A Look at Two ETFs: FXE Euro and UDN Bearish Dollar
Last night, I took a look at the Bullish US Dollar ETF (symbol UUP) and noted its structure, positive divergences, and moving averages to watch. This morning, let’s take a look at two other related, though inversely correlated ETFs for the opposite perspective.
Let’s start with the Bearish US Dollar ETF (symbol UDN) to note a ‘mirror image’ structure and then take a look at the Euro Currency trust ETF (Symbol FXE) to show how the Euro trades inverse to the Dollar.