The dollar’s daily cycle peaked on day 8, formed a swing high, and then declined. It printed its lowest point yesterday, day 23. This morning the dollar broke lower.
Thursday is day 24 for the dollar’s daily cycle. The peak on day 8 locks in a left translated nature to this daily cycle. Left translated cycle formations are prone to fail. So let’s look at this from the weekly chart.
The dollar printed a 30 week intermediate low in May. This new weekly cycle peaked on week 2 and has begun to roll over. A break below 96.16 forms a failed weekly cycle. And with this week being week 5, that would leave about 11 to 15 weeks before the next intermediate dollar low is due.
Cycle Trading 
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