The 12/05/13 Morning Report

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The dollar’s daily cycle peaked on day 10. Since then it has been trading sideways making it challenging to identify if a cycle low has printed.

$$$ R

In real time, day 18 and day 23 both look like daily cycle lows. Well this morning the dollar broke lower again and has since reversed. The question is if this is a new failed daily cycle or an extended day 29 cycle low?

The EURO suggests an extended day 29 low.

1 EURO

The EURO has rallied out of an early November intermediate cycle low. Today is day 19 of the current daily EURO cycle. At 19 days, the EURO has virtually locked in a right translated nature to this daily cycle. The EURO is “due” to decline into a daily cycle low. With the expectation that this will be a right translated cycle, we can expect a brief decline into a DCL, which would sync up with a short dollar rally.

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2 thoughts on “The 12/05/13 Morning Report

  1. LM you did a report a while back on the big picture of the dollar. The 15 year cycle. could we see where we are on that?

    • You are right. It is about time to update the big picture for the dollar. Right now I am planning to include that in the Weekend Report

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