US Dollar Rising

The US dollar is looking stronger against several major currencies over the past few days. It looks set to blow past the 50 day EMA after bouncing along under this level and testing it on several occasions. With its "safe haven" appeal, the dollar may rise substantially in the short term if there is a shock to the financial system of some kind.

With a temporary increase in the US dollar, a move lower (perhaps dramatically) in the stock market can be expected.