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Caleb Franzen: U.S. Dollar Index may break out and reach new highs

Caleb Franzen: U.S. Dollar Index may break out and reach new highs
U.S. Dollar Index may reach new highs

Caleb Franzen said it would make sense for the U.S. Dollar Index (DXY) to cool off at current levels. However, he expects a breakout and the formation of new highs, citing the trend reversal, recent upside momentum, and a re-established uptrend.

Franzen has recently commented on negative trends in equities, noting that the S&P 500 showed a bearish engulfing pattern as tech and growth stocks lagged. Earlier, he pointed out that Opendoor shares have fallen 87.8 percent since their IPO while major indexes advanced. His recent remarks on the dollar index align with his ongoing focus on market momentum and trend shifts.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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