Currency Battle

Both the Euro and the dollar are fighting to go lower.

The dollar is overdue for its yearly cycle decline. A break below the 94.50 level would create a lower low, indicating a failed daily cycle and potentially sending the dollar into its overdue yearly cycle decline.

The Euro is overdue to begin its yearly cycle advance. A break above the 1.15 level will create a higher high, signaling the start of the Euro’s yearly cycle advance. The Euro is currently forming a bearish reversal just below the 1.15 level.

If the Euro succeeds in reversing and regaining control of the currency market, that will the dollar higher — stretching out the dollar’s yearly cycle.

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