Cycle Trading

The dollar ran into resistance at the declining 50 day MA on Wednesday and Thursday. While the dollar formed a swing high on Friday, it found support at the rising 10 day MA and rallied into the close.  The dollar is caught in between the 50 day MA and the 10 day MA.  With the dollar now being in a daily uptrend, a bullish break out of consolidation with a close above the 50 day MA would indicate a continuation of its daily uptrend and signal a cycle band buy signal. But rejection by the 50 day MA with a close below the 10 day MA would signal the daily cycle decline.