Adam Smith Associates - ADR And Dollar Index Technical Analysis


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

ADR Index
The Bank of New York ADR index has been edging up slowly within wave E of a wedge like formation for months now. Price has still not touched the upper yellow trendline which is close to 135. We maybe forming a wedge near the end of wave E shown in blue and could be close to completion as well after one more push higher. All this also brings us close to the Oct 2015 swing high seen in the index.


Dollar Index
The Dollar index surpassed the 61.8% mark and moved to 66% retracement at 102.26 so a new level to watch for today. After that maybe I need to think about this view





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