The 7/21/16 Morning Report

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The dollar has formed a swing high this morning.

1 $$$

Wednesday was day 18 for the dollar’s daily cycle. That places the dollar in its timing band to seek out a daily cycle low. A peak on day 18, or later, assures us of a right translated daily cycle formation.

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A break of the daily cycle trend line will confirm that the dollar has begun its daily cycle decline. The dollar has been closing above the upper daily cycle band, which indicates that the dollar is in a daily uptrend. The dollar will remain in the daily uptrend unless closes below the lower daily cycle band.

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