AFTER FOMC |TECHNICAL ANALYSIS OF THE MARKET | 17 - 21 APR 23 #shorts #stockstowatch
2Greetings traders! As we wrap up an eventful week, let's take a look ahead at next week's market. Despite a lack of major events, we should keep an eye on jobless claims data scheduled for release on Thursday, April 20th, which could have a significant impact on the market. My current outlook is that the market will remain range-bound and experience a pullback. As we head into earnings season, it will be intriguing to see whether the market can sustain its bullish momentum.
In terms of technical analysis, NQ has yet to test the 13358 level and could be headed for a pullback around 12775, followed by 12433. In comparison, ES has been holding onto its momentum more effectively than NQ. Nevertheless, we should expect a pullback to around 4106, followed by 4098.
The US dollar has been looking bearish as it has invalidated the inverse head and shoulder pattern. We should expect it to remain within the range of 102.60 to 100.85. Remember to follow me on Twitter for more updates on stocks. Thank you for tuning in, and see you all next week!
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