Chart of the Day - Monday, September 21st, 2020
September 21, 2020
Today’s Chart of the Day was shared on Twitter by Shane Murphy (@murphycharts). It's a daily candlestick chart of the US Dollar index over the past year. The US Dollar continues to be one of the more important charts to keep an eye on right now. As Shane points out, $DXY is attempting to break a key resistance level around $94. This level has been a brick wall for two months now, and it also coincides with the 50-day EMA (in blue). In a comment to The Chart Report, Shane told us, "Keep an eye on that $94 level this week. If we break above it in the near-term, we could see the Dollar mean revert towards the 200-day EMA (in pink), which could spell trouble for several other asset classes."