EXPECT TO BE RANGE BOUND | |TECHNICAL ANALYSIS OF THE MARKET | 05 - 11 MAR 23 #shorts #stockstowatch
3Hello Traders,
On the 7th and 8th, Fed Chairman Powell will testify to the senate and house, which is expected to have a limited impact on the market. However, on the 9th, we have the jobless claims report and Fed GovernorsWaller's speech, which could shift the market sentiment.
As for the overall market, it's expected to remain range-bound this week, with NQ trading between 12540-11872 and ES between 4102-3912. Additionally, the US Dollar is showing a head and shoulders pattern, which suggests a possible downturn in the market in the second quarter of 2023. Despite this, the dollar is expected to move sideways within a range of 104.60-103.88.
More or less, the market will remain range bound for a while.
Thank you.
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