The dollar has formed a daily swing high this morning.
While not all swing highs lead to a daily cycle decline, a daily cycle decline cannot begin without a daily swing high ;0)
The decline into the recent daily cycle low saw the dollar close below the lower daily cycle band which signaled an end to the daily uptrend. The swing high that formed this morning indicates a possible left translated cycle formation. Should the dollar go on to close below the lower daily cycle band that will provide more evidence that the intermediate cycle is now in decline.
The dollar is in a weekly down trend. The dollar will remain in a weekly down trend until it can close above the upper weekly cycle band. A left translated daily cycle formation would align with the weekly down trend. A weekly close below the lower weekly cycle band would confirm the continuation of the weekly down trend. And with this being only week 6 for the intermediate dollar cycle, that leaves another 10 to 16 weeks before an expected intermediate low to form for the dollar.