Gold’s daily cycle peaked on day 25, formed a swing high and closed below the upper daily cycle band last week to signal that gold has begun its daily cycle decline.
Monday was day 33 for the daily gold cycle. Our cyclical expectation is to see gold break below the daily cycle trend line in order to complete its daily cycle decline. But gold appears to be treading water, perhaps waiting on the dollar …
The dollar has been consolidating since the BREXIT helped push it above the 200 MA. The dollar did manage to close above the 200 day MA on Monday. At this point, a break above the day 2 high of 96.87 would lock in a right translated cycle formation. Monday was day 16 which places the dollar 2 days shy of its timing band for a daily cycle low. So if the dollar does break higher, it would likely be short-lived before the dollar beings its decline into its daily cycle low.
Cycle Trading 
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