Cycle Trading

The dollar had been consolidating above the 50 week MA for the past 5 weeks — until this week.

The dollar is in the process of breaking below the converging 10 week MA and 50 week MA. The peak on week 7 indicates a left translated weekly cycle formation. This was week 10 for the intermediate dollar cycle. The dollar could trend lower for another 6 to 12 weeks before forming its ICL. The dollar is currently in a weekly downtrend. A close below the converging 10 week MA and 50 week MA will indicate a continuation of its weekly downtrend and signal a weekly cycle band sell signal.

In the Weekend Report I will breakdown what this means to the big picture for the dollar — but here is a hint.