Commodity Currency Carnage Continues!

Dollar Index Elliott Wave Update

By Fernando Luna at

USDCAD just might be on a new uptrend warning of a commodity rout.  The buck looks strong still and is at a truing point now.  The Euro, Aussie, CAD look weak now.  The Pound, NZD are sporting daily patterns that look strong against the buck for a while.  And the Yen and CHF are boss as everyone runs for safety.  The 10-year yield looks like it has found a new consolidation zone down under the 1.0%!   And despite the CRB and Oil both rallying of late, they are corrective in structure so the downside is still very much in play.

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