Tuesday was day 22 for the daily dollar cycle. The dollar’s daily cycle normally runs 18 – 25 days from trough to trough. So the dollar is in its timing band to print a daily cycle low.
The bearish reversal on day 21 still stands as the cycle peak. A swing high this late in the daily cycle has a good chance of marking the daily cycle decline.
The dollar has also entered its timing band for an intermediate cycle decline.
The dollar has printed another higher high this week. Week 18 begins the timing band for an intermediate cycle low. The dollar is on the verge of a daily cycle decline. Following that decline a new daily cycle should extend the weekly cycle out by about 6 more weeks to accommodate for a failed daily cycle to print.
Also notice that the EURO is getting late in its weekly cycle. The EURO is due to begin a new intermediate cycle. Which should coincide with the intermediate dollar decline.