Technical Analysis of the Nasdaq Index
The Nasdaq Index declined on Tuesday, reaching the final target of the previous report at 25,207.
Currently, prices are trading within a WFVG zone, from which they have rebounded upward on both the 4-hour and 1-hour timeframes.
This area represents internal liquidity on the weekly chart, and prices are expected to rise during the day.
A 1-hour candle close above the red-highlighted zone will serve as a confirmation signal for the bullish move.
Key Economic News
The U.S. dollar is awaiting today’s ADP Non-Farm Employment Change data and the ISM Services PMI report.
These releases are expected to impact both currencies and stock indices.
Liquidity Levels
Prices are expected to rise and target 25,770, then 26,137, and finally 26,265.
The bearish scenario will be invalidated if prices revisit the 25,015 level.
