Dollar Index And CRB Index Technical Analysis



Dollar Index
Dollar index has fallen in 3 waves so far. A move below 99.34 the recent low should confirm the impulsive behaviour. If that does not happen the best alternate is to think that we are forming a triangle and prices will test the falling trendline near 101.7 again in the coming weeks. Looking at cross rates I would expect the impulsive decline to continue in the dollar, The pattern in the Euro has a major weight in the dollar index and can have an impact in the near term




CRB Index
CRB index has fallen in 3 waves and could be due for another move back up to 198 near the upper line. It could be impulsive or as shown wave d of a on going triangle structure. We will see at that point. A triangle has 5 waves a-b-c-d-e and so failure to breakout above 198 would mean wave e down later in the final wave of consolidation.

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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