The dollar has been powering out of its three year cycle low that it left behind in May. The bullish surprise yesterday looks like the dollar has printed a stealth daily cycle low.
A swing high formed on Tuesday, which was day 26 for the dollar’s daily cycle. Being that late in the daily cycle the dollar should have rolled over into its daily cycle low. The break to new highs indicate a new daily cycle.
Now the dollar is in week 19 for the intermediate cycle. The dollar is already in its timing band to seek out an intermediate cycle low. I suspect we will see the dollar break above the previous three year peak and then reverse into an intermediate cycle decline. A left translated, failed daily cycle is required for an intermediate cycle decline. Therefore we should see this new daily cycle roll over on or before day 8.