Shorting Euro via DRR

 

The euro looks to be running into resistance and a likely turning point.

 

In the chart we see a well-established down trend in red being challenged, as well as current pricing in a range (in black) in which major turns often occur (some shown in blue). 

Commitment of Traders data, circled in blue at bottom, also seems bearish. 

DRR is the Market Vectors Double Short Euro ETN which "provides 2x inverse exposure to an index that measures the performance of the euro relative to the US dollar."

We'll buy DRR with no stop for the time being.

 

 

 

 



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