US30 Long

Updated
Looking to go long on US30 off the 50% Fibo and D50EMA.
Currently eyeing out the long on US30 present, we have the US10Y sitting on the D 50EMA, with a lower high present, indicating we may go lower here. Being that US30 and US10Y are inversely correlated, this has created some market alignment for the move to take place on US30.
With the Fed being opposed to more rate hikes and the looming possibility of a rate cut being done in September this year, US30 fundamentally is set to rise based on the fundamental sentiment present in the markets. Inflation data and consumer sentiment are being released later, so we will wait for an initial reaction to see how the zone behaves.

Now that fundamental picture is painted here are the technical reasons for entry:
50% Fibo
Daily 50EMA
Psychological number 39000
Market alignment

Entry according to OANDA chart: 39910
Stop: 39740
TP1: 39250
TP2: 39500
TP3: 40000



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