US Dollar Index, Euro, UUP/FXE Ratio -8.3% in June ($XEU, $USD)

Hopefully Jim Rogers scooped up some Euros in early June when he said he was "thinking about" getting long the Euro on CNBC. The US Dollar and Euro broke their respective near term trends and today the USD broke below its 50DMA ($XEU pierced it to the upside). The UUP/FXE ratio is down 8.3% from early June. These moves could run for a bit, $UUP and $FXE could test their trend lines from December 2009, then we'll see. Also UUP's RSI (strength index) is below 50 and the MACD pierced the zero line.  It will be interesting to see how SPY and GLD react here. Charts are courtesy of

 $USD (US Dollar Index)

$USD w/ downtrend from January (zoomed in)

UUP (US Dollar Index Bullish Fund ETF

$XEU (Euro Index)


Also I remember a few days ago Peter Schiff thought the Dollar Index was putting in a head and shoulders top and the Euro a head and shoulders bottom (Schiff Report 6/25/2010).  He said the bear market rally in the Dollar was over. Schiff also wants to know who will front the bill for a Freddie and Fannie bailout.

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