Charts suggest the U.S. dollar could be peaking, Jim Cramer says

CNBC's Jim Cramer connected Monday said that the spiking U.S. dollar could highest soon.

"The beardown dollar has go an albatross astir the cervix of an already beaten-down market, but present the charts, astatine last, arsenic interpreted by Carley Garner, suggest the dollar could beryllium peaking," helium said.

The worth of the U.S. dollar has surged successful caller months, driven by the Federal Reserve's assertive involvement complaint raises and the blistery U.S. economy. That's been a headwind to companies that behaviour concern mostly overseas and are truthful taxable to an unfavorable speech rate. 

"Everything other — stocks, commodities, bonds — person each swung backmost this year. As Garner sees it, the greenback is the past holdout, and she doesn't deliberation it volition last," helium said.

To explicate Garner's analysis, Cramer examined the play illustration of the dollar scale going backmost to 2017.

The dollar's been known to marque "dramatic tops," according to Garner, and the past 3 peaks travel a inclination enactment that dates backmost to 2016, Cramer said. The dollar's conscionable nether that inclination line, which is simply a ceiling of absorption and a imaginable constituent of reversal, helium said.

Garner expects that the dollar volition autumn if it can't interruption done that ceiling.

"Currently, the dollar scale is astatine 112, and she wouldn't beryllium amazed if it hits 105 connected the downside," helium said, adding that Garner believes the dollar scale could tumble each the mode to 97, wherever it was trading earlier Russia invaded Ukraine earlier this year.

For much analysis, ticker Cramer's afloat mentation below.