Dollar Slips Nasdaq Consolidates Ahead of Powell’s Speech
The Dollar Stalls as Powell Takes the Stage at Jackson Hole
Jerome Powell is set to address the Federal Reserve's Jackson Hole symposium on Friday, but the Fed Chair would need to strike an exceptionally hawkish tone to prevent the dollar (DXY) from ending the week with one of its steepest declines this year.
Nasdaq Technical Analysis
The price is still consolidating between 19525 and 20100.
Stability above 19625 will support rising to get 19880 and above it will be 20100
otherwise, breaking 19525 by closing the 4h or 1h candle below it, means it will support falling to 19215 and 18940
Key Levels:
- Pivot Point: 19625
- Resistance Lines: 19880, 20100, 20260
- Support Lines: 19525, 19220, 18940
Expected Trading Range Today: 18930 to 20100
Jerome Powell is set to address the Federal Reserve's Jackson Hole symposium on Friday, but the Fed Chair would need to strike an exceptionally hawkish tone to prevent the dollar (DXY) from ending the week with one of its steepest declines this year.
Nasdaq Technical Analysis
The price is still consolidating between 19525 and 20100.
Stability above 19625 will support rising to get 19880 and above it will be 20100
otherwise, breaking 19525 by closing the 4h or 1h candle below it, means it will support falling to 19215 and 18940
Key Levels:
- Pivot Point: 19625
- Resistance Lines: 19880, 20100, 20260
- Support Lines: 19525, 19220, 18940
Expected Trading Range Today: 18930 to 20100
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