Wednesday, October 12, 2011

Currency Anamoly

I pointed one of these out yesterday in the market, today there's one in USO.

 USO (green) vs FXE/Euro (red) 15 min chart

Here's the same on a 30 min chart.

USO is relatively flat and actually heading down a bit right now, The Euro went on to make a higher high, which means the dollar is lower. Being crude is priced in $USD, the price of crude should have adjusted upward for the decreased value of the dollar, but it didn't.

Really, keep an eye on USO, there may be an opportunity there.

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