ForexLive.com, January 31, 2024
NQ technical analysis video
The NASDAQ 100 futures market has been in a trading range and just crossed down its value area low at 17500, which I also mentioned is an important price level to watch in my previous video, and if we CLOSE 2 CONSECUTIVE days below it, then bears regain control. This has not happened yet. The market may decline till an area of a potential double support level formed by a trend line and the bottom standard deviation of the value area. WATCH 17025 TO 17250 for a possibly reversal up.
FOMC Meeting
The Federal Open Market Committee (FOMC) is meeting today to discuss interest rates.While a ‘snoozer; is expected, meaning that it may not change anything in the market yet, this type of an event is always a wildcard simply due to a word or two that may come in play with Jerome Powell.
Earnings Results influencing NQ till end of this week
Earnings results have been a major factor in the…
