Cycle Trading: Thursday Night Update

Discussion in 'Technical Analysis' started by FXStreet_Team, Apr 15, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    The dollar continue to rally out of its daily cycle low today. Today is day 2 for the dollar's daily cycle. The dollar is currently in a down trend, as characterized by peaks below the upper daily cycle band and troughs below the lower daily cycle band. The dollar will remain in the daily down trend until it closes above the upper daily cycle band. But this rally in the dollar is sending gold lower. Gold formed a swing high off the day 11 peak. Today gold delivered more bearish follow through.

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