The dollar printed its lowest point on day 17, which was early for a DCL to form. While the dollar closed above the 10 day MA on the previous Wednesday, it has since been rejected by the 10 day MA last Thursday and then once again on Tuesday to extend its daily cycle decline.
Tuesday was day 24, placing the dollar in its timing band for a DCL. The dollar should break below the day 17 low of 104.41 in order to complete its daily cycle decline. The dollar is currently in a daily uptrend. But a close below the lower daily cycle band will end the daily uptrend and begin a a daily downtrend.
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