US30 short-term analysis for 04 April 2022
The chart on the left shows the daily heikin ashi candles (HA) for FXCM's Dow Jones Industrial Average CFD, the US30. These are trend-following and have pulled back between the upper blue and red bands in the bullish area. If the index can maintain this area of strength, this may be a "buy the dip" opportunity.
The chart on the right shows US30's hourly time frame. Currently, the hourly is ranging sideways with the stochastic in neutral. However, if the EMAs and stochastic cross bullishly (black ellipses), it will be regarded as a bullish development. After that, a bullish momentum will be building if the EMAs develop angle and separation to the upside and the hourly stochastic moves towards the 80+ levels (blue arrow), holding those levels.
Russell Shor
Senior Market Strategist
Russell Shor is a Senior Market Strategist at FXCM, having been promoted to the role in 2025 in recognition of his depth of insight and consistent delivery of high-impact market analysis. He originally joined FXCM in October 2017 as a Senior Market Specialist.
Russell holds an Honours Degree in Economics from the University of South Africa, is a certified FMVA®, and a full member of the Society of Technical Analysts (UK). With over 20 years of experience in financial markets, his work is renowned for its clarity, precision, and strategic value across asset classes.
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