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
Benefit from analysts’ recommendations right now
Top up trading account
Open trading account

InstaForex analytical reviews will make you fully aware of market trends! Being an InstaForex client, you are provided with a large number of free services for efficient trading.

Can't speak right now?
Ask your question in the chat.