LikesMoney
Independent Analyst
Dollar has formed a weekly swing high.
The dollars weekly cycle peaked last week, which was week 26, placing the dollar deep in its timing band to seek out an intermediate cycle low. So the weekly swing high forming here has goods odds of marking the start of the intermediate cycle decline.
A failed daily cycle is required before an intermediate cycle cycle low can form. Monday was day 30 for the current daily dollar cycle. The peak on day 27 sets up a right translated daily cycle formation. Which indicates that the dollar will need to form one more daily cycle. which fails, in order to complete its intermediate cycle decline. Allowing 1 week for the dollar to complete its current daily cycle decline and another 5 to 7 weeks for an additional daily cycle should send the dollar lower through late September or early October
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