Cycle Trading

The dollar was being contained by the 50 day MA — until Wednesday.

The dollar closed above the converging 10 day MA and 50 day MA on Wednesday to signal day 26 as the DCL. The dollar went on to deliver bullish follow through on Thursday. Notice that the 10 day MA had declined rather steeply as the dollar was hunting its DCL. The dollar will likely need to consolidate soon, in order to allow the 10 day MA to flatten out before it can turn higher. The dollar is currently in a daily downtrend. The dollar will remain in its daily downtrend unless it closes above the upper daily cycle band. In The Weekend Report I plan to breakdown my longer term view on the dollar which still remains