Finally, Positive USD Technicals Signal a Buy

09/11/2008 12:00 am EST

Focus: FOREX

If you’ve been waiting for the US dollar to make a low, now may be your chance to get in. For the first time in a very long time, the ten-day moving average has crossed over the thirty-day moving average. For many traders, this is the signal they have been waiting for—at least on a short-term trading basis.

One way to trade this opportunity is to buy an ETF. Specifically PowerShares DB US dollar bullish (UUP).

GTLS Chart

By Chris Perruna, at ChrisPerruna.com.