NASDAQ

The Nasdaq has been a very interesting pair to trade. We’ve seen the Nasdaq price action fail to move past resistance level 12179.4 on three different intervals. Now with price currently trading at 11957.1 .We ask a question. Will price break bullish or bearish.

Nasdaq H4 chart 23 November 2020
#NDXm H4 chart 23 November 2020

Looking at the chart you may notice how price respects the level. It is clear that we are currently in a range with price trading in-between level 11076.6, and level 12179.4 .We believe that we could see this pair trade bearish for a few days. After that price could possibly find support at 11581.3 or 11076.6

Our analysts say that we could see this pair trade bullish in the long term. Although the Nasdaq current price action trades sideways we still believe that this pair could possibly soar past the higher high at level 12482.0 . we are currently watching this pair and waiting on a signal in order to trade the pair bullish.

#NDXm Daily chart 23 Nov 2020
#NDXm Daily chart 23 Nov 2020

NB: Warning Before deciding to participate in the Forex market, you should carefully consider your investment objectives, level of experience and risk appetite. Most importantly, do not invest money you cannot afford to lose. Consider position sizing before entering a trade and manage your risk accordingly. Please read the risk warning before deciding to trade the markets

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