The Dollar
The dollar formed a bearish candle on Monday and a swing high on Tuesday.
The dollar delivered bearish follow through by closing below the 10 day MA on Friday to signal the daily cycle decline. The dollar should go on to turn the 10 day MA lower as it seeks out its DCL. We will be watching the 50 day MA as possible support for the pending DCL to form. The dollar is currently in a daily uptrend. The dollar will remain in its daily uptrend unless it closes below the lower daily cycle band.
Stocks
Stocks rallied off support from the 200 day MA on Thursday.
Stocks delivered bullish follow through on Friday by forming a swing low and closing back above the converging 50 day MA and 10 day MA to signal the new daily cycle. Stocks should go on to turn the 10 day MA higher and break above the declining trend line as they rally out of their DCL.
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