The dollar broke below the daily cycle trend line on Thursday to confirm the daily cycle decline.
Thursday was day 18 for the dollar’s daily cycle. That places the dollar in its timing band to print a daily cycle low. The peak on day 16 assures us of a right translated daily cycle formation.
The dollar recovered on Friday, which eased the parameters for forming a daily swing low. A break above 102.50 will form a daily swing low to signal a new daily cycle. Notice that the dollar closed above the lower daily cycle band on Thursday, maintaining its daily uptrend. The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.
Stocks broke out to new highs on Friday.
Stocks printed its lowest point on day 38 following the day 26 peak. Which placed stocks in their timing band for a DCL. Tuesday’s swing low and Wednesday’s close above the 10 day MA confirm the new daily cycle. Stocks are in a daily uptrend and will remain in so until it closes below the lower daily cycle band.
The entire Weekend Report can be found at Likesmoney Subscription Services
The Weekend Report discusses Dollar, Stocks, Gold, Miners, Oil, & Bonds in terms of daily, weekly and yearly cycles.
Also included in the Weekend Report is the Likesmoney CycleTracker
For subscribers click here.
You can email me at firstname.lastname@example.org to receive a sample copy of the Weekend Report