Technical Analysis for NASDAQ Index
Prices bounced upward from the WFVG zone during the past week. The NASDAQ Index moved in a sideways range on the 1-hour timeframe since the beginning of the week, between 24,870 and 24,316. Prices successfully absorbed the liquidity within these levels and started a bullish move.
Additionally, prices formed an IFVG zone around the 24,645 level, which represents an important buying area. The index is expected to continue its upward movement.
Key Economic News
There are no significant economic events affecting the U.S. dollar today; therefore, we expect smooth and consistent movements on the NASDAQ Index.
Liquidity Levels
Prices are expected to rise and target 25,018, followed by 25,213, and finally 25,468.
The bullish scenario will be invalidated if prices revisit the 24,316 level.
