Instrument: US30
Technical Analysis
Bullish Preference:
Buy position is envisaged if price trades above 34798 with take profit at 34859.
Bearish Preference:
Sell position is envisaged if price trades below 34632 with take profit at 34568.
Fundamentals:
1:30 PM USD Unemployment Claims
Philly Fed Manufacturing Index
Empire State Manufacturing Index
2:30 PM Fed Chair Powell Testifies
Comment: On day one of a two-day testimony before the House of Representatives Financial Services Committee on Wednesday, Powell said that monetary policy would remain accommodative. While insisting inflationary pressures were transitory, he added that the Fed expects to continue its bond-buying until there is “substantial further progress” in the job market, predicting that interest rates will likely remain near zero until at least 2023.
Analysis: SCRUM Team