The daily swing high and trend line break signals that the dollar has begun its daily cycle decline.
The peak on day 13 shifts the odds that this daily cycle will form as a right translated daily cycle. If the decline into the daily cycle low does not beak below February’s low of 95.28, then the dollar will have formed a higher low, which is another indication that February hosted an intermediate cycle low. A break below 95.28 will continue the intermediate cycle decline.
Stocks closed above the upper daily cycle band on Tuesday. Stocks continued delivering bullish follow through by closing above the upper daily cycle band through Friday, indicating that stocks have begun a new daily uptrend.
Stocks printed a new high on Friday, which was day 14. The large Selling on Strength numbers from Thursday and Friday indicate that we can expect resistance at the 200 day MA.
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