Hey Traders, In today's trading session, our focus is on the NAS100 index as we are actively seeking a selling opportunity around the 15250 zone. NAS100 has been experiencing an upward trend, but it recently broke out of that trend. Currently, the NASDAQ is undergoing a correction phase, gradually approaching the retrace area of the trend near the 15250 zone.
To further refine our analysis and gain additional insights, it is crucial to keep a close watch on the upcoming Federal Reserve (FED) speech scheduled for tomorrow. A hawkish speech, indicating a more aggressive approach to monetary policy, could potentially strengthen the US Dollar (DXY) and subsequently exert downward pressure on the NAS100. This negative correlation between the DXY and NAS100 suggests that any strengthening of the US Dollar could impact the performance of the NASDAQ index negatively.
By considering these factors and incorporating the potential impact of the FED speech, we can enhance our analysis and make more informed trading decisions regarding the NAS100 index.
To further refine our analysis and gain additional insights, it is crucial to keep a close watch on the upcoming Federal Reserve (FED) speech scheduled for tomorrow. A hawkish speech, indicating a more aggressive approach to monetary policy, could potentially strengthen the US Dollar (DXY) and subsequently exert downward pressure on the NAS100. This negative correlation between the DXY and NAS100 suggests that any strengthening of the US Dollar could impact the performance of the NASDAQ index negatively.
By considering these factors and incorporating the potential impact of the FED speech, we can enhance our analysis and make more informed trading decisions regarding the NAS100 index.
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