Technical Analysis of the Nasdaq Index
The upward trend of the Nasdaq index remains intact so far. As mentioned in the previous report, prices rebounded upwards from the 23998 level, which represents a Weekly Fair Value Gap (WFVG). Additionally, prices also bounced from the buy zone highlighted yesterday at 24650, representing a Fair Value Gap (FVG) on the 1-hour timeframe. Currently, prices are trading around 24874, and the bullish momentum is expected to continue throughout the day.
Key Economic News
There are no significant economic releases on the U.S. dollar today. Therefore, we anticipate consistent price movement on the Nasdaq index.
Liquidity Levels
Prices are expected to rise and target the levels of 25018, then 25213, followed by 25468.
The bullish scenario would be invalidated if prices fall to the 24316 level.
