The current daily dollar cycle features a peak on day 8.
A swing high formed and on day 10 printed a dragonfly doji.
That appeared to set the daily cycle trend line.
Now we see on Friday morning the dollar testing the cycle peak.
That gives the dollar two lines in the sand.
Should the dollar break above the day 8 intra-day high that swings the odds of this daily cycle forming as right translated.
If the day 8 peak holds and the dollar breaks below the daily cycle trend line then our original framework remains in play.
Stocks seem to shrug off the strong dollar on Thursday by printing a 1.09% gain.
The explosive move up is characteristic of stocks moving out of an intermediate cycle low.
Something else to look for is a follow through day adding another 1.5%.
What was missing was a 90% up-volume.
Since the previous daily cycle did not break below the previous daily cycle low of 1396.56 there remains the possibility that this is not a new intermediate cycle but a new daily cycle.
While stocks shrugged off the strong dollar, gold faltered.
Gold did print a higher high on Thursday but reversed into the close.
Now Friday shows a swing high has formed.
Gold could be back-testing the daily cycle low.
A break below the previous low of 1698.80 would signal that this is not a new intermediate cycle but the concluding daily cycle to the previous intermediate cycle.
It all goes back to the dollar.
We will need to see which way the dollar breaks.
Cycle Trading 
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