The Dollar
After losing the 10 day MA on Monday, the dollar regained it on Tuesday and continued higher through Friday.
This week’s rally has managed to turn the 10 day MA higher which confirms day 27 as the daily cycle low. The dollar currently in a daily downtrend. The dollar will remain in its daily downtrend unless it closes back above the upper daily cycle band.
Stocks
Stocks have not confirmed if day 21 was an early DCL.
While Monday’s bullish reversal closed convincingly above 200 day MA, stocks did not close above the 10 day MA this week. Friday’s bearish close caused the 10 day MA to turn lower, indicating a continuation of the daily cycle decline. A daily swing high off of Friday’s candle could set up the declining trend line. Currently, stocks are in a daily uptrend. They will remain in their daily uptrend unless the close below the lower daily cycle band.
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