US Dollar; Could be in trouble at this level!

by Kimble Charting

The US Dollar has been a stellar performer the past few years, as it has been stronger than most currencies around the world. The chart below looks at US$ over the past couple of years and highlights that it could be creating some patterns, that are often associated with price points were selling pressure gets started.

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Back to back to back weeks (three weeks in a row) the US$ looks to have created reversal patterns (bearish wicks) at (1), at the top of a short term falling channel. Since creating these reversal patterns, US$ has been weak and could be breaking below the key 100 level.
The chart below looks at the US$ over the past 25-years and reflects that it hit a 25-year resistance line and stopped on a dime

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Weakness at (2) could cause US$ selling. Humbly feel what the US$ does at (2), will send many great clues for what assets to overweight towards and what to underweight, going forward.

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