This Changes Everything For The Dollar

March 23, 2024

Wednesday’s rejection of the converging 50 day MA and 200 day MA set the dollar up for a left translated daily cycle formation. However, everything changed on Thursday.

The dollar found support at the rising 10 day MA on Thursday and closed convincingly above the converging 50 day MA and 200 day MA to negate Wednesday’s bearish reversal. The dollar delivered bullish follow through on Friday, closing above the upper daily cycle band. Closing above the upper daily cycle band ends the daily downtrend and begins a daily uptrend.

This completely changes the narrative for the dollars intermediate, yearly and 3 year cycles — which I breakdown in this week’s Weekend Report.

2 responses to “This Changes Everything For The Dollar”

Koen Huysman

March 23, 2024

Does iit also change your bullish view on precious metals? And if so, with which time-frame?

Best regards

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LM

March 24, 2024

Precious metals generally make their best gains with a declining dollar. A rallying dollar will make precious metals more volatile. What would change my bullish view on precious metals would be if gold fails its multi-year breakout. https://postimg.cc/McBpJ58j

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