Cycle Trading

My thanks to Richard who pointed out to me that the dollar did make a high on Friday, which was not reflected on Stockcharts or Finviz.

So that changes a few things.
First, as mentioned, the new high on Friday.
Second, closing above the upper daily cycle band instead of below the 10 day MA.

The new high on Friday, day 17, assures us of a right translated daily cycle formation. Closing above the upper daily cycle band also means that the dollar remains firmly in is daily uptrend. Once the daily cycle decline begins, we can expect the dollar to print a higher daily cycle low.

This was week 12 for the intermediate dollar cycle. The new high this week definitely begins to shift the odds towards a right translated weekly cycle formation. Since the daily cycle is forming as a right translated daily cycle that signals that the dollar will need at least one more daily cycle, to complete the intermediate cycle decline.