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home / news releases / QQQ - FX Risk Proxies Setting Up For Rally Against USD (Technical Analysis)

QQQ - FX Risk Proxies Setting Up For Rally Against USD (Technical Analysis)

PowerShares QQQ Trust Ser 1

2024-02-19 12:50:13 ET

Summary

  • FX risk proxies like the Aussie, Kiwi, Loonie and emerging market currencies are setting up to rally against the USD.
  • These FX risk proxies could mirror the strength seen in the Russell 2000, which broke out higher from a 2-year base.
  • The USD could be setting up for a drop below the 100 psychological level, potentially taking out its swing low in July 2023.

I wrote on 17 Feb that the key development for the week was the Russell 2000's ( IWM ) breakout from its 2-year base....

For further details see:

FX Risk Proxies Setting Up For Rally Against USD (Technical Analysis)
Stock Information
Company Name: PowerShares QQQ Trust Ser 1
Stock Symbol: QQQ
Market: NASDAQ
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