USDJPY
EURUSD
stock
Nasdaq Technical Analysis: The compression points to big moves once we get a breakout
Key Takeaways (30s Read)
Nasdaq is consolidating within a rising wedge, awaiting a breakout in either direction.
The Nasdaq continues to consolidate within a rising wedge as traders await new catalysts. This pattern could lead to either a downside breakout towards 24,900 or an upside breakout resulting in new all-time highs. Recently, a brief market drop occurred due to the DOJ subpoenaing the Federal Reserve, raising concerns about its independence. Today's US CPI report could significantly impact market expectations—strong data might lead to hawkish repricing, while soft data could support upside potential. Upcoming economic releases will further influence the market dynamics.
AI Analyst
AI Opinion
"The Nasdaq is currently in a critical technical state, and a breakout from this compression could have significant market implications. Market participants are closely monitoring threats to the Federal Reserve's independence and the impact of upcoming economic indicators, particularly the CPI, which could significantly alter sentiment. If the Nasdaq successfully breaks out upwards, there could be a strong push towards new highs; conversely, a downside breach could accelerate risk-off sentiment. Investors need to clearly assess these potential movements."
RECOMMENDED BROKER Trusted Broker
Maximize This Opportunity.
Turn AI-detected market inefficiencies into profit with industry-leading specs. There's a reason pros choose Exness.
Raw Spreads
0.0 pips~
Leverage
Unlimited
Execution
Instant
AI Market Analysis Team
Combining advanced AI algorithms with professional trader insights. We analyze market drivers 24/7 to provide objective trading scenarios.