US30 / Bearish Bias Below 41,030 Amid Key Economic Data Releases
ADP, Unemployment rate, and ISM figures are set to be released today.
The price followed a bullish trend yesterday but has since corrected to the resistance at 41,030.
A sustained position below 41,030 will reinforce the bearish trend, potentially driving the price towards 40,800 and 40,480. Conversely, a 4-hour candle close above 41,030 would signal a continuation of the bullish trend, with targets at 41,180 and 41,345.
These economic reports are likely to have a significant impact on market movements.
Key Levels:
Pivot Point: 41,030
Resistance Levels: 41180, 41345, 41550
Support Levels: 40810, 40690, 40470
Expected Trading Range: 41180 - 40690
Trend: Bearish while below 41030.
The price followed a bullish trend yesterday but has since corrected to the resistance at 41,030.
A sustained position below 41,030 will reinforce the bearish trend, potentially driving the price towards 40,800 and 40,480. Conversely, a 4-hour candle close above 41,030 would signal a continuation of the bullish trend, with targets at 41,180 and 41,345.
These economic reports are likely to have a significant impact on market movements.
Key Levels:
Pivot Point: 41,030
Resistance Levels: 41180, 41345, 41550
Support Levels: 40810, 40690, 40470
Expected Trading Range: 41180 - 40690
Trend: Bearish while below 41030.
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