US30 short-term analysis – 8 February 2023

  • US30
    (${instrument.percentChange}%)


The US30 chart is on the cusp of moving back into its bullish channel between the upper blue and red bands. A cross into this region is positive.

The hourly chart is insightful. The trend-following EMAs and the momentum-based stochastic need to cross up (black ellipses). After, the EMAs need to develop angle and separation to the upside and the stochastic needs to move to the 80+ levels (blue arrow). This will suggest an underlying momentum is present.

Yields have softened following the Fed chair's interview yesterday. This supports the US30.

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Russell Shor

Senior Market Specialist

Russell Shor joined FXCM in October 2017 as a Senior Market Specialist. He is a certified FMVA® and has an Honours Degree in Economics from the University of South Africa. Russell is a full member of the Society of Technical Analysts in the United Kingdom. With over 20 years of financial markets experience, his analysis is of a high standard and quality.

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