Market Update: Risk Rally – USD Index – US30 W1 Analysis
Hi traders, thanks for tuning into today’s market update.
Today we cover the risk markets as they continue to post recoveries. Our focus is on risk majors to the USD, the USD index, oil, and the US30. The majors continue to push higher to the USD, with the AUD and EUR leading the charge. Oil has also seen plenty of buying interest after this morning’s EIA stockpile figures.
Consumer confidence came in stronger than expected, and it could be aiding in the current demand for stock indexes.
We have broken down the price action we are looking for on the AUDUSD, EURUSD, GBPUSD, and USD index.
I have zoned in on the US30 today and broken it down on the weekly timeframe for something a little different. I am starting to wonder if a new weekly trend continuation has started to develop.
Market Update Video
Good trading.
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