Cycle Trading

The dollar managed to break above the 6/01 high, establishing a new yearly high.

At day 16, the dollar is just two days from entering its timing band for a low.

The timing band for the dollar runs from day 18 to day 28, so there is still time for the dollar to go higher.

Gold catching a bid while the dollar was printing a yearly high is encouraging,.
At day 9, gold is still treading water.

Gold managed to catch a bid on Wednesday, but still closed off the high of the day.

Gold appears to be forming a triangle and is approaching the point, just as the dollar is nearing the timing band to seek out a low. If the dollar rolls over soon, that should ignite a bullish break out. If the dollar runs one more leg higher, then that increases the likelihood of gold’s daily cycle failing.

Commodities in general also seem to ignore the dollar today

So until gold prints a failed daily cycle, it hasn’t.
And by the same token, until gold breaks out, it hasn’t.