Cycle Trading

The dollar broke below the 98 support level last week. However, the dollar did not deliver bearish follow through. Instead the dollar rallied to close back above the 50 day MA last Thursday.  The dollar closed above the 10 day MA on Tuesday then formed a swing low on Wednesday. The dollar is currently in a daily uptrend. Forming a swing low and closing back above the 10 day MA indicates a continuation of its daily uptrend and signals a cycle band buy signal. So we will label day 15 as an early DCL.