After peaking on day 24, the dollar formed a swing high and delivered a trend line break on day 25, indicating the daily cycle decline.
The dollar did break out to a new high on Monday gave some back on Tuesday, and then continued higher through Friday. While it is possible that Friday is day 30 of an extended daily cycle, I believe that the aforementioned trend line break makes Friday day 5 of a new daily cycle. The dollar has closed above the upper daily cycle band all this week, indicating that the dollar is in a daily uptrend. As long as the dollar continues to close above the lower daily cycle band, it will remain in a daily uptrend.
Stocks broke above the 200 MA the previous week and then back tested the 200 MA on Tuesday. Stocks have since been crawling above the 200 MA. Crawls are usually continuation patterns.
Stocks continue to close above the upper daily cycle band, indicating that stocks are in a daily uptrend. Stocks will remain in a daily uptrend until they close below the lower daily cycle band.
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