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US30 Daily Market Analysis 22nd OCT 2024 by K9 Investments Trading

Writer's picture: K9 InvestmentsK9 Investments
Oct 22, 20244 min read

Updated: Oct 25, 2024

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US30 Live Market Price: $42,858


📈 Intraday Signals (US30)

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Buy Signal 1:

  • Trade Entry: Buy US30 at $42,900

  • Stop Loss: $42,700

  • Take Profit 1: $43,200

  • Take Profit 2: $43,500

Sell Signal 2:

  • Trade Entry: Sell US30 at $42,700

  • Stop Loss: $42,900

  • Take Profit 1: $42,400

  • Take Profit 2: $42,100

🔔 Risk Warning: Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary. Please read and ensure you fully understand our Risk Disclosure. Not Financial Advice. Trade at your own risk. Take Partial Profits, Use Strict Stop Loss, and Proper Risk Management.

Market Analysis: US30 Key Levels & Indicators

Daily and 4-Hour Timeframes Overview

The US30 is currently experiencing a pullback from its recent highs, showing potential trading opportunities around key Fibonacci retracement levels and support zones. Here's a breakdown of the market indicators:

Support & Resistance Levels

  • Daily Support Levels:

    • 42,500

    • 42,100

    • 41,800

  • Daily Resistance Levels:

    • 43,000

    • 43,500

    • 44,000

On the 4-hour timeframe, price action shows resistance at 43,000 and support at 42,400, which aligns with today's intraday signals.

Fibonacci Retracement Levels

For today's analysis, we are measuring the recent high of $43,500 and the low of $41,800, giving us the following Fibonacci levels:

  • 23.6% retracement: $42,900

  • 38.2% retracement: $42,600

  • 61.8% retracement: $42,200

These levels will serve as key areas of interest for reversals or breakouts.

Exponential Moving Averages (EMAs)

On the Daily Time Frame:

  • 50 EMA: $42,850

  • 100 EMA: $42,600

  • 200 EMA: $42,300

  • 400 EMA: $41,900

On the 4-Hour Time Frame:

  • 50 EMA: $42,900

  • 100 EMA: $42,700

  • 200 EMA: $42,400

  • 400 EMA: $42,000

With price moving around the 50 EMA on both timeframes, there could be a potential breakout in either direction depending on upcoming news events.

RSI Divergence

The RSI is currently hovering near the 70 level on the 4-hour timeframe, indicating a possible overbought condition. However, there is no clear divergence yet, which suggests traders should watch for RSI breaking below 60 for confirmation of bearish momentum.

Order Blocks

  • Bullish order block identified around 42,100, where buyers previously stepped in aggressively.

  • Bearish order block near 43,000 shows resistance, suggesting sellers are looking to defend this level.

MACD

The MACD on the 4-hour chart is showing a slight bearish crossover, with the signal line crossing below the MACD line, indicating potential downward momentum. Traders should be cautious of false signals and confirm with other indicators.

Fundamental Analysis and USD News

The US30 index is highly correlated with major USD news, and this week, the following events may impact market volatility:

  • US GDP Data (to be released on 24th October): This will significantly affect US30 as it provides insights into the economic health of the US.

  • FOMC Meeting Minutes (on 25th October): Traders should be cautious as this event could drive volatility in the markets.

Keep an eye on these upcoming news events to make more informed trading decisions.

US30 Daily Analysis Summary by K9 Investments Trading

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US30

Key Levels Summary for US30

  • Daily Support: 42,500, 42,100, 41,800

  • Daily Resistance: 43,000, 43,500, 44,000

  • Fibonacci Levels:

    • 23.6%: $42,900

    • 38.2%: $42,600

    • 61.8%: $42,200

  • EMA Levels (Daily):

    • 50 EMA: $42,850

    • 100 EMA: $42,600

    • 200 EMA: $42,300

    • 400 EMA: $41,900

  • Weekly Pivot Levels:

    • Resistance: 43,200

    • Support: 42,600

    • Midpoint: 42,900

  • Daily Pivot Levels:

    • Resistance: 43,000

    • Support: 42,500

    • Midpoint: 42,750

FAQs

1.Why is K9 Investments the best signal provider? K9 Investments offers FREE signals, educational resources,Weekly market analysis, and ebooks for traders at every level.

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3.How does the US30 correlate with USD news events? The US30 index is strongly influenced by economic data and events related to the US dollar (USD), as it represents major US companies. Positive economic data like rising GDP or strong employment numbers usually boosts US30, while negative news or uncertainty, such as weak inflation or Fed rate hikes, can cause a decline. Watching USD news events such as Non-Farm Payrolls (NFP) or FOMC minutes is crucial for predicting US30 movements.

4.What indicators are most reliable for US30 trading? Fibonacci retracement levels, Exponential Moving Averages (EMAs), and Relative Strength Index (RSI) are key indicators when trading US30. Fibonacci helps traders spot pullbacks and trend continuations, while EMAs highlight momentum and trend direction. RSI shows overbought or oversold conditions, helping identify potential reversals.


5.How can I use Fibonacci retracement levels for better entries?

Fibonacci retracement levels are used to identify potential reversal zones during price corrections. For example, after a strong upward move in US30, traders use Fibonacci levels (like 23.6%, 38.2%, or 61.8%) to pinpoint where the price might reverse and continue its trend. You can place buy orders near these retracement levels during an uptrend or sell orders during a downtrend.


6.How can I join K9 Investments' free signal service? It's easy! Simply join our FREE Telegram channel where we provide daily Gold, Forex, and Crypto trading signals along with live market analysis. You can also visit our website for more details on signing up for premium VIP signals.

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