Cycle Trading

The dollar is running into resistance at the107 level.

The dollar formed a weekly swing low last week. With the dollar rallying into its new daily cycle, we need to turn our attention to the 107 resistance level.  Rejection by the 107 resistance level would signal the intermediate cycle decline.  However, the dollar is currently in a weekly uptrend. A close back above the 107 resistance level would indicate a continuation of its weekly uptrend and signal a weekly cycle band buy signal.