• Contact Us
  • Homepages
Most Forex
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
  • For Beginners
  • Strategies
  • Technical Analysis
  • Product Reviews
  • News
  • Videos
No Result
View All Result
Most Forex
No Result
View All Result
Home Technical Analysis

Nasdaq 100 Technical Forecast for the Third Quarter

Forex Tips by Forex Tips
July 5, 2020
in Technical Analysis
0
Nasdaq 100, Crude Oil and EURAUD Stage Head-and-Shoulders Patterns
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter


Nasdaq 100 Third Quarter Forecast:

  • The Nasdaq 100 is an important index with a defined technical structure
  • Breaching prior highs and key psychological barriers in its price recovery, the Nasdaq was a beacon of strength in second quarter and its technical layout is crucial as a result
  • Major levels exist on other indices which are detailed further in the full third quarter equity forecast

Nasdaq 100 Technical Forecast for the Third Quarter

The Nasdaq 100 has become one of the most important indices in the world as it leads the way in the coronavirus recovery rally. With high exposure to market-leading stocks like Apple, Amazon, Facebook, Google and Microsoft, the tech-heavy index has grown into somewhat of a proxy for price action on other indices like the Dow Jones and S&P 500. As US indices can loosely dictate the direction of price action in other equity markets, it can be said the Nasdaq’s role in the current market environment is crucial.

Nasdaq 100 Price Chart Weekly Timeframe (2009 to 2020)

Nasdaq price chart

Chart created in TradingView by Analyst Paul Robinson

Therefore, the defined technical structure within which the Nasdaq trades may serve to provide key insight into the health of broader equity price action. Nearing the topside of an ascending channel that has contained price for more than a decade, it is hard to entirely discard the threat of a reversal lower amidst the highly uncertain fundamental backdrop. For a deeper look into the Nasdaq’s technical structure as well as the fundamental outlook heading into the third quarter, read the full third quarter equity forecast by clicking the banner below.

Traits of Successful Traders

Traits of Successful Traders

Recommended by Peter Hanks

Traits of Successful Traders

–Written by Peter Hanks, Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX





Source link

Share76Tweet47

Related Posts

USD/MXN Picks Up Buyer Support

by Forex Tips
January 17, 2021
0

USD/MXNTechnical Forecast: Neutral Not much has changed in the USD/MXN daily chart since I talked about it last week....

US Dollar Primed to Rise? USD/SGD, USD/IDR, USD/PHP, USD/PHP

USD Surges as Index Rebounds off Trend Support

by Forex Tips
January 17, 2021
0

US Dollar Technical Price Outlook: DXY Weekly Trade LevelsUS Dollar technical trade level update – Weekly ChartUSD mounts largest...

Crude Oil Price Struggles For Momentum- Brent Oil Forecast

Pullback at Hand Before Next Leg Higher?

by Forex Tips
January 17, 2021
0

Crude Oil Technical Forecast – BearishCrude oil prices fade just before testing recent yearly high Bearish RSI divergence signals...

GBP Supported by Covid Vaccination Hopes

by Forex Tips
January 17, 2021
0

Sterling (GBP/USD and EUR/GBP) Price, Analysis and Charts:GBP/USD – Two steps forward, one step back. EUR/GBP continues to press...

USD/JPY Triangle Builds into Wedge

by Forex Tips
January 16, 2021
0

USD/JPY Technical Forecast: BullishUSD/JPY started the week by continuing the prior week’s jump, but prices soon ran into a...

Load More

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos
Forex Pulse Detector

Categories

  • Crypto Strategies
  • Currency
  • For Beginners
  • Forex News
  • Forex Trading Tips & Strategies
  • Investment
  • Technical Analysis
  • Videos

Newsletter

  • Home
  • Contact
  • Privacy Policy
  • Store

© 2018 Forex Blog

No Result
View All Result
  • Contact Us
  • Homepages

© 2018 Forex Blog.