Fundamental Perspective:
US30 consolidated as markets assessed downbeat US NFP data, marked by sharp downward revisions for Apr and May, indicating a cooling labor market. Average hourly earnings rose by 0.3% in Jun, below the market forecast of 0.4%.
The modest wage increase and downward revisions in job figures could reinforce expectations of a Sep Fed rate cut, potentially supporting the US30 rally.
However, uncertainty surrounding the US elections may temper its upside as traders proceed cautiously.
Technical Perspective:
US30 continued consolidating between the 39000-40000 range as the index approached the ascending channel's lower bound and EMAs, which serve as dynamic support.
If US30 regains its bullish momentum with a break above 40000, the index might rise further towards the 127.2% Fibonacci extension at 41800.
Conversely, a bearish breakout of the channel and 39000 support could prompt a further decline towards the next support at 37200.
US30 consolidated as markets assessed downbeat US NFP data, marked by sharp downward revisions for Apr and May, indicating a cooling labor market. Average hourly earnings rose by 0.3% in Jun, below the market forecast of 0.4%.
The modest wage increase and downward revisions in job figures could reinforce expectations of a Sep Fed rate cut, potentially supporting the US30 rally.
However, uncertainty surrounding the US elections may temper its upside as traders proceed cautiously.
Technical Perspective:
US30 continued consolidating between the 39000-40000 range as the index approached the ascending channel's lower bound and EMAs, which serve as dynamic support.
If US30 regains its bullish momentum with a break above 40000, the index might rise further towards the 127.2% Fibonacci extension at 41800.
Conversely, a bearish breakout of the channel and 39000 support could prompt a further decline towards the next support at 37200.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.