The dollar printed its lowest point on Friday, day 20, placing it in the early part of its timing band for a daily cycle low. The dollar followed that with a swing low on Monday and is now pressing into resistance at the declining 10 day moving average on Tuesday.
The dollar is still in a daily uptrend, but it needs confirmation. A close back above the 10 day moving average would signal a continuation of that uptrend and trigger a cycle band buy signal — allowing us to confidently label day 20 as the DCL.
Until that happens, the dollar is simply testing resistance within a declining short-term structure. The next few sessions will determine whether this resolves into a confirmed cycle low or just a temporary bounce.
Cycle Trading 
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