US Dollar daily chart to take a closer look at the sideways action. The key test this week is whether or not the dollar index can hold 77. If the 76 level is ever lost, that would represent a fear that the dollar is collapsing. The expectation would be for the dollar index to move up from here in concert with the broad indexes moving down.
Note the April sell off that started when price went above the 20 MA, same for that short sell off in November. Look at how price and the 20 MA are dancing now, within pennies of each other. If price moves above the 20 MA, the dollar index heads up and the broad markets sell off, or, visa versa. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your finanical advisor before making any investment decision.
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