Cycle Trading

The dollar delivered a bearish surprise on Friday.

The dollar formed a bearish candle on Friday, closing below both the 50 day MA and the 10 day MA. This sets the dollar for a left translated daily cycle formation. The dollar is currently in a daily downtrend. If the dollar forms a swing high below the upper daily cycle band that will indicate a continuation of its daily downtrend and signal a cycle band sell signal. A break below 104.55 will form a swing high.

The Weekend Report I plan to breakdown my longer term view on the dollar.