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Cycle Trading

The Dollar Flexes Its Muscles

The dollar had been consolidating below the 105.40 level — until Friday.

The dollar formed a swing low on Friday, closing above the 105.40 level. The dollar is currently in a daily uptrend. Forming a swing low and closing above the resistance level indicates a continuation of its daily uptrend and signals a cycle band buy signal. This also indicates that the ICL has been set.

In the Weekend Report I give an uptrend on the status of the dollar’s intermediate cycle.

3 responses to “The Dollar Flexes Its Muscles”

  1. Bruno Avatar
    Bruno

    and what will happen with gold?

    Reply
    1. likesmoneystudies Avatar
      likesmoneystudies

      Hi Bruno,
      I discussed gold in the Weekend Report.
      LM

      Reply
  2. likesmoneystudies Avatar
    likesmoneystudies

    Hi Koen,
    Silver did get a bit stretched above the 10 day MA.
    As long as silver does not close back below the 50 day MA, silver should be OK.
    Silver did form a weekly swing low above the 10 week MA.
    LM

    Reply

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