The dollar closed above the 10 day MA on Wednesday then continued higher Thursday and Friday. The new high on day 14 shifts the odds towards a right translated daily cycle formation. The dollar is currently in a daily downtrend. But a close above the upper daily cycle band will end the daily downtrend and begin a daily uptrend. A close above the upper daily cycle band will also signal that the ICL has been set.
Stocks made a new daily cycle high on Thursday but remain contained below the 200 day MA. The new high on day 22 assures us of a right translated daily cycle formation. Stocks are currently in a daily uptrend. A close above the 200 day MA will indicate a continuation of its daily uptrend and signal a cycle band buy signal. However, the daily cycle is starting to get mature and there are bearish divergences developing on the oscillators. Rejection by the 200 day MA with a close below the 10 day MA will signal the daily cycle decline. A break below 5635.38 will form a swing high.
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