Technical Analysis of the Nasdaq Index
The Nasdaq Index is trading in a sideways range on the hourly timeframe. It is worth noting that prices are still moving in a major uptrend on the daily and weekly timeframes, and prices have formed a DFVG zone around 24,985. It is expected during the day that prices will pull back to the DFVG zone, and upon the emergence of a positive price behavior from this area we will start looking for buying opportunities.
Key Economic News:
There are no major economic releases today affecting the U.S. dollar, so we expect coordinated moves on the Nasdaq Index.
Liquidity Levels:
Prices are expected to rise, targeting 25,125 then 25,209.
The bullish scenario is invalidated if prices visit the 24,875 level.
