SimpleFX Blog
    Facebook Twitter Instagram
    Thursday, February 2
    Facebook Twitter LinkedIn Telegram YouTube
    SimpleFX BlogSimpleFX Blog
    Banner
    • Home
    • News
    • Tutorials
    • Updates
    • Opinion
    • Trading Academy
    • Trading Schedule
    SimpleFX Blog
    Home»Analysis»Is Nasdaq Losing Steam?
    Analysis

    Is Nasdaq Losing Steam?

    Zach WrightBy Zach WrightMarch 30, 2021Updated:March 30, 2021No Comments2 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Email

    Yesterday Dow Jones closed at a historic record, however, tech companies didn’t perform as well. Nasdaq is at a crossroads at the moment. Take a look at our analysis.

    As for Forex, USDCAD should be the pair to trade this week.

    SimpleFX USDCAD Chart Analysis: March 30, 2021
    The USDCAD currency pair shows the construction of an uptrend moving inside the green channel.
    Since March 24, the market has started moving in a horizontal direction within a small yellow channel.
    To date, the price has reached the lower green zone. If the bears can break through the support level of 1.258, then the decline can be continued to the lower yellow wall and the support level of 1.254.
    However, if the bears do not have enough strength to break through the lower green line, then the market will push off from it and go up. If the upper line of the yellow channel is successfully broken in the area of the resistance level of 1.263, the bulls will open the way to the next resistance level of 1.278, which is on the upper line of the yellow channel.
    Let’s see what scenario the USDCAD pair will continue its development.
    SimpleFX NDX100 Chart Analysis: March 30, 2021
    The NDX100 stock index shows the construction of a large uptrend that moves inside the green channel.
    Just a couple of weeks ago, the market pushed off from the upper green line and began to decline slowly. However, after reaching the lower green line, the market turned around and continued to move in the opposite direction.
    The last section of the chart describes a small yellow channel.
    It is likely that we may see a repeated decline towards the lower line of the green channel. If this time the bears can break through the support level of 12716.4, then the decline will continue to the lower support level of 12437.5, located on the lower yellow line.
    Alternatively, we can assume that the bulls will first bring the price to the upper yellow wall, and after breaking through the resistance level of 12995.4, they will lead the price to the higher resistance level of 13654.4, which is on the upper green line.
    featured
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
    Previous ArticleTrade Riot, Palantir, and Rocket $1,000 Giveaway Winners
    Next Article Spring Holiday 2021 Trading Schedule
    Zach Wright

    Related Posts

    Introducing SimpleFX Automatic Affiliate Transfers

    January 31, 2023

    Investors’ Guide to the DAX 40 Index

    January 28, 2023

    Don’t Miss Out On TRON and BNB Staking On SimpleFX

    January 27, 2023

    Leave A Reply Cancel Reply

    Copyright © 2022. SimpleFX
    • SimpleFX WebTrader
    • Unilink Affiliate Tracker

    Type above and press Enter to search. Press Esc to cancel.

    We and our partners use cookies for analytics purposes and to serve personalized ads. You can view our privacy policy here and our cookies policy here
    Accept.
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT