I would have expected a bigger move up in gold considering how big the dollar was down today.
Wednesday was day 15 for gold’s daily cycle and gold had a yawner of a day.
I suspect that gold maybe sniffing out the impending dollar rally.
It is interesting to note that the timing band for a low for gold is still out in front of us and gold appeared on the selling on strength list today with a 47.91 million print.
So the dollar had a big day down and pierced the 79 level.
Wednesday was day 23 for the dollar’s daily cycle.
The dollar’s daily cycle normally runs 18 – 25 days from trough to trough so each passing day increases the likelihood of the dollar printing a low.
Today the dollar eased the parameters of forming a swing low.
A break above 79.22 forms the swing low.
The dollar’s daily cycle peaked on day 19 which suggests that this will be print as a right translated daily cycle.
We believe that the dollar printed an intermediate cycle low on 9/14.
That was followed by a right translated daily cycle.
So the expectation is that once a bottom forms the dollar will need to rally to above 80.42 to form a weekly swing low.
That should send gold to seek out its intermediate cycle low…
Cycle Trading 
Leave a reply to angelo851 Cancel reply