Monday, December 21, 2009

Top Global Currency ETFs To Move Away From The US Dollar: It All Depends on Timeframe

We ran the RSI numbers on all currency ETFs on the market. This identifies those are that are oversold and overbought and may then be used as indicators for the top ETFs to buy and to sell.

Short term (RSI daily):

(please click to enlarge)

In the short term, some ETFs are extremely oversold: URR, EU, ERO, FXE, all related to long Euro positions. The overbought ETFs are DRR and EUO, both double short Euro.

Long Term:

Using longer timeframes, there are no oversold currencies, although EUO is getting close (interestingly, this one is overbought in the short term, as above). The Japanese Yen and Australian dollar are the most overbought ones.

Names and volumes

For your convenience, here are the names of these currency ETFs and average volumes:

Note that we track these ETFs live as one of our Tracking Live sites.

You may receive alerts of these currency ETFs sent automatically to you by entering the symbols in the Technical Trend Analysis Tool, (powered by INO).

Please do your own due dilligence.

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