• Sept 18, 2024
  • Trade ideas

US30: Historical Record Test

US30, Daily

US30Daily.png

In the Daily timeframe, US30 hit an all-time high as the FOMC meeting approached. A rising wedge pattern formed, and the price reached the upper trend line. Despite this, a divergence has formed on RSI, and the Stochastic is overbought.

  • If the bulls push the price above the resistance of 41700, it will rise to 43300, corresponding to 161.8 Fibonacci;
  • A break of the lower trend line will start the correction to 40300;
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Trading foreign currencies on margin involves significant risks and may not be suitable for everyone, as high leverage can increase both potential gains and losses. Before entering the foreign exchange market, it is essential to evaluate your investment goals, personal experience, and risk tolerance.

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Author: Egor Schmidt