After NVIDIA's positive earnings were released yesterday, today's focus shifts to the U.S. GDP data on a quarterly basis. Expectations suggest a steady growth rate of 2.3%. If the U.S. growth exceeds this rate, it could lead to a rise in the U.S. dollar and potentially negatively impact American indices like NASDAQ, due to the likelihood of maintaining higher interest rates for an extended period.
Technically, the NASDAQ index has recently declined, moving in a general downward direction by forming successive lows lower than each other. The corrective rise to the level of 21453 could be seen as an opportunity for a rebound downwards and a continuation of the downward trend, with the first target located at the level of 21086. On the other hand, a potential positive scenario would involve prices rising above the level of 21596 and recording a higher peak, indicating a breakthrough of the last lower high recorded by the market, suggesting a change from a downward to an upward trend.
Technically, the NASDAQ index has recently declined, moving in a general downward direction by forming successive lows lower than each other. The corrective rise to the level of 21453 could be seen as an opportunity for a rebound downwards and a continuation of the downward trend, with the first target located at the level of 21086. On the other hand, a potential positive scenario would involve prices rising above the level of 21596 and recording a higher peak, indicating a breakthrough of the last lower high recorded by the market, suggesting a change from a downward to an upward trend.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.