The 6/18/15 Morning Report

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The dollar’s daily cycle peaked on day 8, formed a swing high, and then declined. It printed its lowest point yesterday, day 23. This morning the dollar broke lower.

$$$ daily

Thursday is day 24 for the dollar’s daily cycle. The peak on day 8 locks in a left translated nature to this daily cycle. Left translated cycle formations are prone to fail. So let’s look at this from the weekly chart.

2 $$$

The dollar printed a 30 week intermediate low in May. This new weekly cycle peaked on week 2 and has begun to roll over. A break below 96.16 forms a failed weekly cycle. And with this week being week 5, that would leave about 11 to 15 weeks before the next intermediate dollar low is due.

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9 thoughts on “The 6/18/15 Morning Report

  1. Hi…..
    You wrote: “A break below 96.13 forms a failed weekly cycle”.
    Do you mean 93.16 below in stead 96.13 ?

  2. Pingback: The 6/19/15 Morning Report | Cycle Trading

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