Selling short the long dollar ETF UUP at the market, or buy the short dollar ETF UDN.
Selling short the long dollar index UUP at the market, current price $26.17
We have fallen out of the uptrend and now in a sideways consolidation which looks like short term distribution. We could have had a sign of weakness and a last point of supply.
We have been wanting to be short the dollar, so we are going to enter a short at this time. Use a buy stop at the previous resistance of $26.38
If you choose you could also just purchase the Short Dollar ETF which is UDN. Use a sell stop on the long position at $20.54
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