The US 30 Index is currently trading within a range, positioned between the highs of 33205 and the lows of 32658 on the 30-minute chart. Traders eagerly await the release of the US ADP Nonfarm Employment Change and the initial US jobless claims reports, scheduled to be published in less than two hours.
In the 30-minute chart, the index’s current position resides within the supply zone of 32940 to 32978, which is a critical level to watch for potential upside movement. A positive report from the upcoming data releases could propel the index above this level, leading to a recovery from the recent decline and potentially pushing it towards 33080.
Conversely, if the reports are unfavourable, the index might experience a decline towards the demand zone marked at 3287 and 32800 on the price chart. Traders should be prepared for potential downside movement in such a scenario.
As we approach this crucial period, I extend my best wishes to fellow traders for a successful session. Feel free to request an analysis of your favourite trading product; I’ll gladly assist you. If you find my analysis helpful, kindly support my work by liking it. I welcome your comments and would be happy to discuss trading.
