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Non farm data exceeded expectations to strengthen the prospect of aggressive interest rate hike by the Federal Reserve

2022-06-06
1180
Fundamental analysis:

The Dow Jones Industrial Average fell 348.58 points, or 1.05%, to 32899.70 points, down 0.94% this week. The non farm data exceeded expectations and strengthened the prospect of the Federal Reserve's aggressive interest rate hike. The US nonfarm payrolls increased by 390000 in May. The tight labor market did not ease as expected by the Fed. The unemployment rate was 3.6%.


Dow Jones dj30 - 4-hour K-line chart display:




Technical comments: it has been kept in a wide range in the Bollinger belt index channel for a long time, the short-term short-term momentum shows signs of waiting for the opportunity to move down, the Bollinger belt index is moving in a closing trend, the MACD index is hovering on the upper side of the 0 axis, and the high level of the RSI index is retreated and moved down to the 50 equilibrium line for consolidation;


Multi empty turning point: 32995


Pressing position: 33207, 33407


Support position: 32686, 32517


Trading strategy: down 32995, target 32686, 32517


Alternative strategy: bullish above 32995, goals 33207 and 33407


The above analysis is a personal point of view and is for reference only.

The above information is provided by special analysts and is for reference only. CM Trade does not guarantee the accuracy, timeliness and completeness of the information content, so you should not place too much reliance on the information provided. CM Trade is not a company that provides financial advice, and only provides services of the nature of execution of orders. Readers are advised to seek relevant investment advice on their own. Please see our full disclaimer.

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