USD Drops From Target
The target on this counter-trend rally was 97. USD climbed above it, tried to establish support at the MA 50, and then failed today, I guess with the weak factory…
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June 2, 2015
NFTRH+; Anti-USD Plays
The Emerging Markets (EM) have been weak over the last month as the USD made a recovery rally. Today USD index is making a drop below the 50 day moving averages and the upside target of 97 we had noted (currently at 96.20).
This brings into focus the prospect of a ‘C’ leg of an A-B-C rally in commodities that was reviewed in NFTRH 345 and also the prospect of the EM fund EEM maintaining its series of higher highs and higher lows.
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June 2, 2015