Currency Charts for Traders to Watch

Currency trading has traditionally been the realm of professional traders. Even today, buying and selling currencies requires a forex account, which often carries stricter capital requirements than opening a traditional equities account. With the rise in popularity of niche exchange-traded products, any investor can quickly and easily add exposure to global currencies. In this article, we take a look at several currency-related charts to try and determine where active traders will be focusing their attention over the coming weeks and months. (See also: Profit From Forex With Currency ETFs.)

Swiss Franc Missile tests by North Korea have triggered a flight to safe-haven assets such as gold and into currencies such as the Swiss franc. Taking a look at the chart of the CurrencyShares Swiss Franc Trust (FXF CurrencyShares Shs Swiss Franc FXF 99.28 0.00% ), you can see that the upward pressure in recent weeks has led to the bullish crossover between the 50-day and 200-day moving averages (MAs). This long-term buy signal is known by traders as the golden cross and is one of the classic signs that marks the beginning of a major uptrend. From a risk management perspective, traders will likely remain bullish on the Swiss franc until FXF closes below $96.10, which is equal to the support implied by the 200-day MA. (For more, see: Use This ETF to Trade the Swiss Franc.)

Bullish chart patterns on these currency ETFs suggest that now could be the time to buy. …read more

Read more here: Currency Charts for Traders to Watch

Category: FXF, FXC, FXE

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