Cycle Trading

The Dollar broke below the June daily cycle low on Tuesday.

Tuesday was only day 12 for the daily dollar cycle. That leaves another 2 to 3 weeks before the dollar is in its timing band for a DCL. The dollar is currently in a daily downtrend. Breaking below the previous daily cycle low indicates a continuation of its daily downtrend and signals a cycle band sell signal. Breaking below the previous daily cycle low also forms a failed daily cycle and extends the intermediate cycle decline.

In the Weekend Report, I plan to discuss what the failed dollar cycle means for the longer term intermediate, yearly and 3 year cycles.