NDXUSD

The US inflation data released last week revived expectations for a Fed rate cut. The Nasdaq index managed to complete four consecutive weeks in positive territory with a 2% increase on a weekly basis. The minutes of the last FOMC meeting, where the Fed did not change the interest rate and Chairman Powell closed the door to the possibility of a rate hike, will be followed. In the rest of the week, the US preliminary PMI data will be the economic calendar data to be followed for index movements, while we can say that the Nvidia balance sheet to be announced in the middle of the week is one of the important developments to be followed for index movements. When we examine the short-term pricing of the Nasdaq index futures contract technically, we are following the 18600 -18700 region for the index. As long as the index is above the region, positive expectations are at the forefront. In increases, the 18800 - 18900 levels can be followed as resistance. In possible decreases, negative expectations may come to the fore with the breakdown of the 18600 level downwards. In this case, 18400 – 18300 levels can be followed as support. Support: 18500 – 18400 Resistance: 18700 – 18800