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Nasdaq -> Short Squeeze ComingHello Traders, welcome to this free and educational multi-timeframe technical analysis . On the weekly timeframe you can see that Nas100 just recently perfectly broke above and with last week's candle already retested and rejected a quite obvious previous weekly resistance area at the HKEX:12 ,800 level. You can also see that as we are speaking, Nas100 is approaching the next major weekly structure area at the HKEX:13 ,600 level which was acting as quite strong resistance in the past, so from a weekly perspective I am now just waiting for another rally to retest the next resistance before I then do expect a short term correction towards the downside. On the daily timeframe you can see that with Friday's candle, the Nasdaq perfectly broke and closed above a previous daily resistance area at the HKEX:13 ,100 level - all of this previous resistance is now turned support so I am just waiting for a retest and bullish confirmation before I then do expect another impulse towards the upside. Thank you for watching and I will see you tomorrow! You can also check out my previous analysis of this asset:
PEPPERSTONE:NAS100Long
by basictradingtv
35
DXY - US Dollar should riseWe've just had a decent pullback and now we could get the bounce. The US fiscal flows have gone into surplus. What does that mean? It means the US Treasury is taking more out of the system than they put in. This means they are taxing more than they are spending. When a government taxes they destroy the currency. This means there are fewer dollars in the system than in March and we could go back to the Late September levels. Fewer greenbacks in the system could mean the scarcity effect increases what people are willing to pay. There is also the coming rate hike in a couple of weeks' time.
TVC:DXYLong
by Macrobriefing