The dollar continued crawling up the daily cycle trend line on Tuesday
This is a continuation pattern, setting the stage for a break lower.
The dollar has signaled its intention to go lower when it decisively broke the rising cycle trend line.
Now we are waiting for the dollar to break out of the mini bear flag.
A break below 81.17 prints a failed daily cycle and confirms its journey into its intermediate cycle low.
Gold looks to be waiting for the dollar to make its break.
Gold is on day 3 of its new daily cycle.
The expectation is for this daily cycle to be right translated, printing a higher high.
Gold found itself testing the declining trend line on Tuesday.
Gold is still very early in the current daily cycle.
Once the dollar breaks lower gold should break up through the declining trend line
That’s when the fireworks should start …
Happy Fourth of July





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