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Daily Market Analysis 29|07|2020: US30

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Daily Analysis / Online Education

Daily Market Analysis 29|07|2020: US30

Instrument: US30

Intraday: Bullish

Technical Analysis

Preference: 
Buy position is envisaged if price trades above 26358 with take profit at 26427.
Alternative scenario: 
Sell position is envisaged if price trades below 26271 with take profit at 26196.
Fundamentals:
7:00pm USD FOMC Statement Federal Funds Rate

Comment: The US seems to be in a race to complete details of a $1 trillion coronavirus rescue package before the enhanced unemployment benefits expire on Friday. Therefore Price is expected to continue its bullish run after bouncing off a support.

Analysis: SCRUM Team

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