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Daily Market Analysis 07.03.2022: US30

Instrument: US30

Technical Analysis

Bullish Preference: 
Buy position is envisaged if price trades above 33125 with take profit at 33189 .
Bearish Preference: 
Sell position is envisaged if price trades below 33018 with take profit at 32927.
Fundamentals:
No major Fundamental

Comment: 
Global stocks markets were roiled as Russia’s attack on Ukraine prolonged for over a week. European markets were particularly damaged,Nasdaq Composite declined by 2.78%. Weakness in the tech sector continues to be influenced by the road ahead for monetary policy. Look no further than to February’s Non-Farm Payrolls report. The US added 678k jobs versus 423k anticipated as the unemployment rate ticked lower to 3.8% versus 3.9% anticipated. It should be noted that a 50-basis point hike from the Federal Reserve this month was priced out.

Analysis: SCRUM Team

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