Adam Smith Associates - Watch out dollar index


The dollar index has been forming an expanding triangle for months. The Dollar closed below the 101.10 level of the yellow trendline that marks the upper end of an expanding pattern. In short the failure to breakout amounts to a false breakout and the implications of the failure should be a move back to the lower end of the range in the coming year to near 91

Adam Smith Associates offers trade & commodity finance related services & solutions to its domestic & international clients. Views expressed in this article are purely of the author - Mr Rohit Srivastava - a leading technical analyst. Visit www.adamsmith.tv for services offered by Adam Smith Associates Pvt Ltd

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