Dollar Trying to Get in Gear

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The dollar printed its lowest point last Thursday, following the day 16 peak. While the dollar has formed a daily swing low, it is still trying to get in gear to confirm the new daily cycle.

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The dollar’s daily cycle has averaged 31 days since printing its yearly cycle low last May. Thursday was day 30, placing the dollar in its timing band for a daily cycle low. The dollar needs to break above the declining trend line in order to confirm the new daily cycle.

The Miners have formed a swing low but have not confirmed a new daily cycle. Perhaps it is because they are sniffing out an impending dollar rally …

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The Miners printed their lowest point Thursday following the day 22 peak. Thursday was day 24, placing the Miners in their timing band for a daily cycle low. However Thursday’s low did not even reach the 38% retracement. A rallying dollar will likely send the Miners lower. If so, we will be able to draw a declining trend line off of Monday’s candle. Then wait for the next swing low to potentially mark the Miners daily cycle low.

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One thought on “Dollar Trying to Get in Gear

  1. Pingback: The Dollar Breaks Lower | Cycle Trading

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