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Daily Market Analysis 05.10.2022: US30

Instrument: US30+

Technical Analysis

Bullish Preference:  
Buy position is envisaged if price trades above 30287 with take profit at  30366
Bearish Preference: 
Sell position is envisaged if price trades below 30149 with take profit at 30030
Fundamentals:
1:15pm    USD ADP Non-Farm Employment Change
3:00pm    USD ISM Services PMI    

Comment: 
U.S. stocks are seen opening firmly higher Tuesday, continuing the previous session’s broad rally as investors enter the year’s final quarter with a degree of cautious optimism. Stocks have been helped by the fall in U.S. Treasury yields after the publication of weaker-than-expected manufacturing data, raising hopes that the Federal Reserve will ease back on its monetary tightening as economic growth slows.

Analysis: SCRUM Team

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