The 7/12/13 Weekend Report Preview

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The dollar’s daily cycle peaked on Tuesday, day 14, and then printed swing high on Wednesday. Wednesday also saw the dollar break below the daily cycle trend line confirming a move into a daily cycle low. The dollar followed through to the downside on Thursday, with a small oversold bounce on Friday.

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Friday was day 17 for the daily dollar cycle. The dollar’s daily cycle can stretch to day 28 so there could be up to two more weeks of downside for the buck.

This is the first daily cycle of a new yearly cycle. This new daily cycle did start off with a powerful thrust. However, this dramatic reversal has me thinking that this new yearly cycle may have peaked.

Stocks

Stocks printed a right translated cycle low on 6/24. This past Monday saw a declining trend line break confirming a new daily cycle.

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This makes Friday day 13 of this new daily cycle. This cycle has started out strong being up 12 of the 13 days so far. Even though this was a right translated daily cycle, I believe that an intermediate cycle low has been left behind.

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One response to “The 7/12/13 Weekend Report Preview”

pk34145

July 14, 2013

LM

Thank you for another great report.

I am worried about the direction of the Euro (and therefore the $USD). Do you think it is likely that the Head-and-Shoulders pattern on the Euro will complete with a plunge to 120? I have tried to put the cycles on the Euro chart and I think it has just completed its 2nd daily cycle and the current cycle should now be a left translated daily cycle that will fail both the last daily cycle as well as the last ICL. http://www.imagebam.com/image/fbb106265483965 This does not look good for the Euro and therefor the $USD will be much higher….., and this is not good for $GOLD.

Your view of the Euro would be much appreciated.

Cycle Trading