Nasdaq is currently in strong bullish impulse and recent drop in US Dollar Index made this uptrend stronger. Nasdaq price broke above EMA 200, MACD and RSI are pretty bullish and that suggest us that price could attack next resistance zone which I expect to be around 12328 (green dashed line).
In case of price retracement we have few support zones (green zone and green dashed line) before testing uptrend line (green line). As I mentioned I analysis for US Dollar Index, this week brings us important reports which will affect the price and direction of US Dollar Index as it can bring a lot market instability and volatility. Every market instability and volatility in US Dollar Index will affect Nasdaq price as well.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
In case of price retracement we have few support zones (green zone and green dashed line) before testing uptrend line (green line). As I mentioned I analysis for US Dollar Index, this week brings us important reports which will affect the price and direction of US Dollar Index as it can bring a lot market instability and volatility. Every market instability and volatility in US Dollar Index will affect Nasdaq price as well.
This is not financial advice and I am not a financial advisor. It is important to do your own research and make your own opinion before getting into any trades or financial investments. You are responsible for all your trades and all win and lose results, so manage your risk according to your financial situation. Don't invest money which you are not ready to lose.
