Adam Smith - Dollar & Euro 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

Dollar Analysis
The dollar index forming wave II as an expanded flat. Wave III down yet to begin


Euro - Hammer & Bull
The Euro completed a 61.8% retracement and bounced right back forming a hammer and a Engulfing bull Candlestick patter on the chart. Wave 2 down for the Euro should now mostly be complete. This should mean that the dollar tops and starts to fall as well. Wave 3=1 points to 1.10 as the next level for the fractal. Yesterdays low of 1.052 should now be an important low.



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