The Dollar Flexes Its Muscles

The dollar had been consolidating below the 105.40 level — until Friday.

The dollar formed a swing low on Friday, closing above the 105.40 level. The dollar is currently in a daily uptrend. Forming a swing low and closing above the resistance level indicates a continuation of its daily uptrend and signals a cycle band buy signal. This also indicates that the ICL has been set.

In the Weekend Report I give an uptrend on the status of the dollar’s intermediate cycle.

5 thoughts on “The Dollar Flexes Its Muscles

    • Hi Koen,
      Silver did get a bit stretched above the 10 day MA.
      As long as silver does not close back below the 50 day MA, silver should be OK.
      Silver did form a weekly swing low above the 10 week MA.
      LM

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