Cycle Trading

The dollar broke bearishly out of consolidation last week.

The dollar printed its lowest point on day 29, placing it in its timing band for a DCL. After breaking bearishly out of consolidation last week, the dollar has begun to coil, trying to find support. A swing low and close above the 10 day MA will signal the new daily cycle. A break above 100.83 will form a swing low. 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.