The dollar’s daily cycle broke to a new daily high on 12/03. Then it proceeded to drop. It closed below the lower daily cycle band signaling not only the start of its daily cycle decline, but the intermediate cycle decline as well.
Since 12/03 the dollar has been forming a bear flag. The dollar still needs to break below 97.59 to form a swing high. With Tuesday being day 12, that leaves another 6 days before the dollar enters its timing band to print a daily cycle low.
Gold printed a bullish reversal on 12/03, which was day 42 for the daily gold cycle. Gold formed a clear and convincing swing low then next day that closed above the lower daily cycle band to confirm a new daily cycle. While gold stalled out the last two days it has remained above the lower daily cycle band.
It seems that both the dollar and gold have some …