Last week’s rally has caused the status of the daily cycle to be uncertain. The dollar printed its lowest point the previous Monday. But it was not clear if the previous Monday was day 9 of a failed daily cycle or was 48 LT of a stretched daily cycle — until Monday.
The Dollar formed daily swing high on Monday.
Monday’s swing high caused the dollar to close below the converging 10 day and 50 day MA’s. The dollar is currently in a daily downtrend. Closing below the converging 10 day and 50 day MA’s indicate a continuation of its daily downtrend and signal a cycle band sell signal — which indicates that Monday as day 14 of a failed daily cycle.
Cycle Trading 
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