The dollar continued to rally this week and printed a new high on Friday, day 31.
This daily cycle is stretched and overdue for a daily cycle decline. A daily swing high accompanied by a close below the 10 day MA should send the dollar into its daily cycle decline. The dollar is in a daily uptrend and will remain in its daily uptrend unless it closes below the lower daily cycle band.
The daily swing low that formed on 10/14 was 6 days shy of the normal timing band for a daily cycle low.
Stocks are still waiting on a declining trend line break to confirm the new daily cycle. So if stocks break lower here, I would be inclined to view this as a continuation of the daily cycle decline.
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