WILL FED PAUSE RATE HIKE? |TECHNICAL ANALYSIS OF THE MARKET | 10 - 14 APR 23 #shorts #stockstowatch
1Greetings traders! It's great to be back and I hope everyone is ready for this week's market move. In this short video, we will discuss the upcoming events that will shape the direction of the market. The most crucial event to watch out for is the CPI data release, which will give us an insight into the current inflation rate. Along with that, we have the FOMC meeting minutes, where the Fed's interest rate decision will be announced. The recent banking turmoil has made the economy more vulnerable, and it's highly likely that the Fed might announce a 25 basis point rate hike, followed by a pause for the rest of the year.
Now, let's talk about the market. NQ is currently pushing into the resistance zone between 13225-13746, and it would be great to see it push and stay above 13350. As for ES, it's already in the resistance zone between 4106.75-4179.50. Keep an eye on the dollar as well. It's surprisingly holding up with the inverse head and shoulder pattern, but a hold of 102 is crucial. Otherwise, it might break below 101.26, leading to another rally in the market.
In conclusion, stay tuned for more updates, and follow me on Twitter for stock-related news. Wishing you all a happy Easter, and I'll see you next week!
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