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