Cycle Trading: Miner Alignment

LikesMoney Independent Analyst

The Miners formed a swing low on Monday.

The Miners printed their lowest point on Friday, day 13, which is early to expect a daily cycle low. However the Miners delivered a bullish signal by closing back above the 50 day MA. Now a close above the 10 day MA would have us label day 13 as the DCL.

While we cannot, at this point, be certain that the Miners have printed their daily cycle low, alignment from both gold and the dollar makes this a more likely scenario.

Gold printed its lowest point on Monday, following the day 15 peak. Monday was day 43, placing gold deep in its timing band for a daily cycle low. Monday's bullish reversal also eases the parameters for forming a DCL. A break above 122.53 forms a swing low to signal a new daily cycle.

The dollar's daily cycle appears to have topped which would be in alignment with gold printed a DCL.

Monday was day 24 for the dollar's daily cycle. Bearish divergences are developing on then momentum oscillators which we normally see during a cycle top. And Monday the dollar also printed a doji, which often heralds a change.A break below 93.42 will form a daily swing high and then a break of the daily cycle trend line will confirm the daily cycle decline.

In the Weekend Report I plan to break down the dollar's longer term 3 year and 15 year cycles and how that relates to gold.

Author

LikesMoney

Independent Analyst

Assets (such as stocks, gold, and the dollar) have identifiable cycles.

EUR/USD hits two-day highs near 1.1820

EUR/USD picks up pace and reaches two-day tops around 1.1820 at the end of the week. The pair’s move higher comes on the back of renewed weakness in the US Dollar amid growing talk that the Fed could deliver an interest rate cut as early as March. On the docket, the flash US Consumer Sentiment improves to 57.3 in February.

GBP/USD reclaims 1.3600 and above

GBP/USD reverses two straight days of losses, surpassing the key 1.3600 yardstick on Friday. Cable’s rebound comes as the Greenback slips away from two-week highs in response to some profit-taking mood and speculation of Fed rate cuts. In addition, hawkish comments from the BoE’s Pill are also collaborating with the quid’s improvement.

Gold climbs further, focus is back to 45,000

Gold regains upside traction and surpasses the $4,900 mark per troy ounce at the end of the week, shifting its attention to the critical $5,000 region. The move reflects a shift in risk sentiment, driving flows back towards traditional safe haven assets and supporting the yellow metal.

Crypto Today: Bitcoin, Ethereum, XRP rebound amid risk-off, $2.6 billion liquidation wave

Bitcoin edges up above $65,000 at the time of writing on Friday, as dust from the recent macro-triggered sell-off settles. The leading altcoin, Ethereum, hovers above $1,900, but resistance at $2,000 caps the upside. Meanwhile, Ripple has recorded the largest intraday jump among the three assets, up over 10% to $1.35.

Three scenarios for Japanese Yen ahead of snap election

The latest polls point to a dominant win for the ruling bloc at the upcoming Japanese snap election. The larger Sanae Takaichi’s mandate, the more investors fear faster implementation of tax cuts and spending plans.

XRP rally extends as modest ETF inflows support recovery

Ripple is accelerating its recovery, trading above $1.36 at the time of writing on Friday, as investors adjust their positions following a turbulent week in the broader crypto market. The remittance token is up over 21% from its intraday low of $1.12.