US Stock market Technical Analysis July 29, 2020

The market trading flat as the Fed is in focus

Free $100 Forex No-Deposit Bonus

DJIA futures up 47 points before the market open but mostly trading near the flat points. Today, the market is focusing on the Fed which will announce interest-rate decision also the future outlook. The Fed expected to stay dovish and support the market will everything the can.

Without change in the stance then U.S dollar might continue its weakness.

Asian & European Stock market

The Asian stock mixed today. Japan stock market down 260.27 points (-1.15%) to 22,397.11, China stock market up 66.59 points (+2.06%) to 3,294.55 and Australia ASX 200 down 14.10 points (-0.23%) to 6,006.40. The European stock market also mixed. DAX Germany down 0.17%, FTSE UK up 0.23%, Euro STOXX 600 up 0.07%

Technical Analysis

Dow Jones Industrial Average (INDU)

The index movement continues between 26,000 – 27,000 area and no breakout yet at the current time. Today, the index expected to maintain its positions inside the range while supported by the daily SMA 200. There is news from the Fed today which might trigger volatility in the DJIA index.

Limited Brands Inc (LB)

LB share prices have surpassed the daily SMA 200 and tested the level near $20.00. It seems the share prices have trouble to breakout above the resistance level. At the current time, LB might start moving lower to test the trendline and the daily SMA 200. Traders could use the moment to enter long positions near both support levels.

Copyright © 2021. All Rights Reserved. FXDailyReport.Com
Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. will not accept any liability for loss or damage as a result of reliance on the information contained within this website including data, quotes, charts and buy/sell signals. Please be fully informed regarding the risks and costs associated with trading the financial markets.