UUP is trading near it’s 52 week low at $22.28 as of the close of today and I am thinking about a buy on this EFT.
UUP seeks to track the price and yield performance, before fees and expenses, of the Deutsche Bank Long US Dollar Futures index. The index is comprised solely of long futures contracts. The futures contract is designed to replicate the performance of being long the US Dollar against the Euro, Japanese Yen, British Pound, Canadian Dollar, Swedish Krona and Swiss Franc.
With the Euro trading at around $1.50, an all time high, today the EUR/USD ended with gains but still remains inside a range. The Euro failed to break above 1.5000 one more time. Greenback lost Tuesday’s gains but I am considering a trade for dollar valuation and current dollar/euro trends. How low can it go?