❗Watch out for increased volatility in the stock market and the USD
Minutes of the last FOMC meeting in June will be published today at 7:00 pm BST. Investors will focus mainly on any remarks regarding tapering. If there are clear signals regarding a faster than expected reduction of the asset purchase program or an increase in interest rates, the demand for risky assets may significantly decrease, which may in turn lead to a pullback in the stock market. On the other hand, if today's minutes do not surprise the markets, the upward rally should continue.
US30 continues in an upward trend. Yesterday's declines stopped at the major support zone at 34,400 pts and today this level was tested again. This zone is marked by the earlier price reactions, the lower limit of the upward channel and the 1: 1 structure. According to the classic assumptions of technical analysis, as long as the price sits above it, there is a chance that the upward trend will continue. Nearest resistance is located at 34820 pts. However, should a break lower occur, the sell-off could intensify. Source: xStation5
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