Cycle Trading: Dollar Appears Ready to Confirm the Daily Cycle Decline
|The dollar has been rejected twice by the 50 day MA. A break below the daily cycle trend line will confirm that that the dollar has entered its daily cycle decline.
Day 9 remains as the daily cycle peak, which favors a left translated cycle formation. A break of the daily cycle trend line will not only signal that the daily cycle is in decline, but that the intermediate cycle is STILL in decline. Therefore the dollar should break below the previous daily cycle low of 99.19 in order to complete its intermediate decline.
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