The dollar’s daily cycle peaked on day 5, lost the 200 day MA on day 12 and closed below the lower daily cycle band on day 15. Friday’s close below the lower daily cycle band signals that the dollar is in an intermediate cycle decline
Friday was day 15 for the daily dollar cycle. The dollar is three days shy of entering its timing band for a daily cycle low that could extend out to day 28. The peak on day 5 has locked in a left translated nature to this daily cycle. Combined with Friday’s close below the lower daily cycle band delivers a cyclical expectation of the dollar to print a failed daily cycle. But the rising 50 week MA may shorten the daily cycle decline, which is covered in the Weekend Report.
The clear and convincing break of the declining trend line on Monday confirmed a new daily cycle.
Stocks continued higher closing above the 50 day MA on Thursday and printing another higher high on Friday. Stocks also closed above the upper daily cycle band indicating a new daily uptrend.
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