NAS100USD AnalysisOur Perferance NAS100USD
Fundamental Analysis:
The Nasdaq 100 is under pressure amid concerns over rising interest rates and weaker economic data from the U.S. Recent hawkish comments from the Federal Reserve have dampened investor sentiment, increasing the likelihood of further rate hikes. Additionally, fears of an economic slowdown are weighing on tech-heavy indices, contributing to a potential downside in the near term.
Technical Analysis:
The chart shows NAS100USD approaching a strong resistance level near 22,000, where previous price action has shown rejection (marked by the orange circles). The current setup indicates a potential reversal to the downside. A stop-loss is placed just above the resistance, while Target 1 (21,600) aligns with the next key support zone, and Target 2 (21,200) is near a previous low. Indicators and price action suggest bearish momentum, but traders should wait for confirmation before entering a position.
Trade Plan:
Entry: Below the resistance at 21,900
Stop-Loss: Above 22,000
Targets: 21,600 (Target 1), 21,200 (Target 2)
Focus on risk management and monitor fundamental developments for further confirmation of the bearish bias.
Note: This analysis is for educational purposes and not trading advice. Consider market conditions and strategies.
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