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07.04.202117:04 Forex Analysis & Reviews: Trading Signal for Nasadq #NDX for April 07 - 08, 2021: Key level 13550

Exchange Rates 07.04.2021 analysis

The Nasdaq #NDX index, in 1-hour charts is trading below the SMA of 21 and below the 7/8 of Murray, we note that it has found a strong support at 13,550. If it consolidates below this level we expect a bearish move to 6/8 Murray around 13,437.

Amazon Chief Executive Officer Jeff Bezos said Tuesday of his support for President Biden's plans to raise corporate taxes.

In a few hours the Federal Reserve will release the minutes of its latest monetary policy meeting, adding more nuance to a message from President Jerome Powell's press conference.

This data will also affect the bags that we see now that are operating within a range of about 40 points, maintaining the upward trend.

A break above 13,590 could point to the 13,700 target, an area of strong weekly resistance.

On the other hand, a break below Murray's 7/8 we expect a correction to 13,437 and 13,281 there is Murray's 5/8 and a strong support area.

Support And Resistance Levels For April 07 - 08, 2021

Resistance (1) 13,658

Resistance (2) 13,725

Resistance (3) 13,788

Support (1) 13,550

Support (2) 13,465

Support (3) 13,397

*The market analysis posted here is meant to increase your awareness, but not to give instructions to make a trade.

Dimitrios Zappas,
Analytical expert
InstaForex Group © 2007-2021
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