Cycle Trading

The Dollar formed a swing low on Monday, printing its low on day 24 and placing it in the early portion of its timing band for a daily cycle low. With a swing low and an expected close above the 10 day moving average, day 24 is labeled as the DCL.

While the daily cycle signal is constructive, the Dollar remains in a downtrend and must still prove itself at higher levels. The next phase will determine whether this move is merely a bounce — or the beginning of something more consequential.