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NASDAQ-100 Index futures finished higher: Downside Pressure June E-mini NASDAQ-100 Index futures finished higher on Friday after reversing earlier weakness. On Friday, June E-mini NASDAQ-100 Index futures settled at 7840.25, up 41.75 or +0.53%. The main trend is up according to the daily swing chart. A trade through 7879.50 will signal a resumption of the uptrend. The main trend will change to down on a move through 7276.00. This is highly unlikely, but there is room for a normal 50% to 61.8% correction if the minor trend changes to down. NASDAQ-100 Index touch new higher 8000 Area That was best opportunity for sell, first target 7690 and finally 7200 level. NASDAQ-100 Index daily 200 ma Moving Average Area 7140 so this is best way for Buy NASDAQ-100 Index 7140 level target 7712 level. Bullish Scenario:- Taking out 7879.50 will indicate the buying is getting stronger. There is no resistance at this time, but buyers will have to watch for a closing price reversal top. This chart pattern will not change the trend, but it could lead to a short-term correction. Bearish Scenario:- The inability to overcome 7879.50 will signal the presence of sellers. This could drive the index back into the first short-term pivot at 7769.75. The next downside targets are Friday’s low at 7755.50, and a pair of pivots at 7739.00 and 7727.50.
TVC:NDQLong
by Saleh11
NFP as an excuse for rebounding from the upper border on the $The dollar again approached the upper border of its medium-term range 93.30-95.40. As reasons for this, you can call both an excellent form of the US economy and summer range trading, when assets are circulating from the top to the bottom. As a rule, as a reason for a rebound from the boundaries of the range, one or another fundamental factor is chosen. In this regard, Friday is almost ideal for rebounding the dollar from the upper boundary of the medium-range. Speech, of course, is about statistics on the US labor market. Recall, traditionally the US labor market statistics unit includes the following indicators (see the table below). Pre-Forecast 15:30 USA 3 NFP (July) 213K 190K 15:30 USA 3 Average hourly earnings (m / m) (July) 0.2 % 0.3 % 15:30 USA 3 Unemployment rate (July) 4.0 % 3.9 % In general, the forecasts are good, but the markets by and large need only an excuse. They can also quarrel with the insufficiently rapid growth of wages, as a reason for doubts that the Fed will raise rates, and to the number of new jobs, even if it comes within the forecasts (since the current forecast is lower than the previous value). In addition, the last time unpleasantly surprised by the unemployment rate, which has grown. Plus, the results for the previous period may be revised downward. That is, if you want to find an excuse, you will find an excuse. It is in this we see the vulnerability of the dollar on Friday. Technically, he is ready for a turn and a local decline, and a fundamental reason for this will be found at 15-30, if, of course, they want. Do not exclude the possibility of weak data. The fact is that over the past two years, data on the NFP has never been published 3 times in a row better than forecasts. Maximum - two times in a row. And this was recorded just last month. That is, purely statistical data this week should go worse than forecasts. In total, we believe that the dollar is unlikely to be able to overcome the upper limit of the range, but the rebound from it is the most likely development of events, especially considering that there is still a whole month of summer ahead. Therefore, our recommendation - the sale of the dollar in the upper range.
TVC:DXY
by Trade24Fx