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

Cramer said that the U.S. dollar could peak soon.

The strong dollar has become an albatross around the neck of an already beaten-down market, but now the charts show that the dollar could be peaking.

The value of the U.S. dollar has gone up in recent months due to the Fed raising interest rates. It has been a problem for companies that conduct business mostly overseas because of the unfavorable exchange rates.

The stock market has swung back this year. He said that she doesn't think the dollar will last.

Cramer looked at the weekly chart of the dollar index for the past year.

According to Cramer, the dollar has been known to make "dramatic tops", and the last three peaks follow a trend line from 2016 He said that the dollar is close to the trend line, which is a ceiling of resistance.

If the dollar can't break through the ceiling, it will fall.

The dollar index is currently at 112, and she wouldn't be surprised if it hits 105 on the downside.

Cramer has a full explanation on his website.

Jim Cramer has a guide to investing that you can download for free.