US Dollar

Feb 29

Imo this is a very big level for the dollar going back decades. But more recently it marked the high in 2017 and again in 2020. I think we get a large move off this level in the coming weeks due to the 9 ema crossing the 21 ema last week. Price is also consolidating between VWAPs from 2020 lows & 2022 highs which should provide for an even larger move once it breaks out of the range (this chart is futures which includes volume). Price is currently sitting above the 2017 high level and weekly 50 sma which is still technically still sloping down. This could all change in a second though so will be looking for confirmation on lower timeframes over the next few weeks. The direction of the dollar is important imo because I don't think stocks can go higher if the dollar is as well.