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Nasdaq Analysis Hi Everyone, Hope you had a great weekend and back for another crazy week. Sorry the analysis is a little later than normal. Usual time for main analysis will be approx 7:30am GMT. Last week the analysis played out beautifully. Lets see what this week has to say. We are still in a downtrend on the higher timeframes. Nasdaq is in a falling channel, the market is also in some sort of consolidation if you look at the daily. The market broke out of 11700 area but then quickly came back up closing above this area. I feel we will carry on moving around the areas of 12061-11702 until the market is ready and give us a clearer direction. I have given two simulation what can happen for the bulls and the bears. BEARS: will most likely consolidate before pushing back down to 11700 area and this will also be the centre trendline and if broken we can see more lows. BULLS: If after a little consolidation the trendline gets broken then we may see a rapid move up before pushing down to carry on moving back up. Keep a eye on the lower timeframe analysis that will be coming up soon.
OANDA:NAS100USD
by Tradeofgrey
Nasdaq Analysis Hello everyone, Yesterday was a crazy day. We had moves of close to 700 pips. The price smashed through all the key areas and reached close enough to the monthly lows as analysed and expected. Where do we go from here now? So price is not only near the monthly low but also centre trendline. I will wait to see how price reacts around this area as it is a key area. If 11828 is broken then I would expect price to push down further to next level of 11687-11525. However price can also go back to 12132 area before coming back down. Over the last 6 months tech companies have not been doing very well and rising in interest rates have played a big part.
OANDA:NAS100USDShort
by Tradeofgrey
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