Cycle Trading

The dollar has been consolidating in a triangle pattern … until Thursday.

The dollar is in the process of breaking bearishly out of its consolidation pattern. The dollar also is breaking below both the 10 day MA and the 50 day MA to signal the daily cycle decline. The peak on day 5 indicates a left translated daily cycle formation. A break below the previous DCL of 106.78 will form a failed daily cycle to signal the intermediate cycle decline — Which I plan to discuss in the Weekend Report.