Chart of the Day: U.S. Dollar Is Breaking Major Levels

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While everyone is focused on the meltdown in technology stocks and bond prices, the U.S. dollar is hitting even more historic levels to the upside.

The U.S. Dollar Index started moving in late 2021 as the Federal Reserve got more hawkish. It accelerated after Russia invaded Ukraine and has continued upward every week since the end of March.

The main pattern on today’s chart is the …

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U.S. Dollar Index, weekly chart with selected events, courtesy of TradingView.
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David Russell is VP of Market Intelligence at TradeStation Group. Drawing on nearly two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them appraised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.