This Week's Top Trade Ideas (March 25-29)

👋 Good Morning!

Welcome to this week's edition of The Forex Buzz newsletter! Get ready for another exciting week in the markets with our curated watchlist and a roundup of major news and events. Whether you're a seasoned trader or just getting started, our newsletter is your go-to resource for staying informed and ahead of the curve.

FEATURED TRADE IDEAS

Nasdaq - $NDX

The NASDAQ-100 (NDX) is a stock market index comprising 100 of the largest non-financial companies listed on the NASDAQ exchange. It focuses on technology and internet-related firms but includes companies from other sectors as well. The NDX is a key benchmark for technology and growth stocks, reflecting investor sentiment towards the tech sector. It is widely tracked by investors and financial professionals.

Technical Analysis

• NDX broke its all-time high at 18416 but lacked sufficient buyer support to sustain upward momentum.

• Watch for a bounce at trendline support to signal a potential continuation of the uptrend.

• Potential bounce levels include the 0.5 Fibonacci retracement level at 18115 and the 0.618 Fibonacci retracement level at 18032.

Gold – XAU/USD and $GLD

Gold (XAU/USD) is a precious metal that is traded globally as a commodity. It is often seen as a safe-haven investment during times of economic uncertainty or inflation. The price of gold is influenced by various factors, including supply and demand dynamics, geopolitical events, central bank policies, and the strength of the US dollar.

Technical Analysis

• Gold broke out of trendline resistance following the FOMC meeting but has since shown weakness and experienced a significant reversal. This reversal indicates a shift in sentiment from bullish to bearish.

• The current price action is retesting the previously broken trendline, which has now turned into a potential resistance level. If gold fails to break above this trendline, it could indicate further downside pressure.

• The Point of Control (POC) is a significant level in volume profile analysis, representing the price level at which the highest volume of trading occurred. The fact that the POC is near the trendline could indicate a level where buyers are stepping in to defend the price, potentially leading to a reversal.

Advanced Micro Devices - $AMD

Advanced Micro Devices (AMD) is a leading semiconductor company known for its CPUs and GPUs. AMD's products are used in a wide range of applications, including personal computers, gaming consoles, and servers. The company has gained market share in recent years due to the competitive performance of its products compared to rivals like Intel and Nvidia.

Technical Analysis

• AMD is currently testing trendline support, indicating a critical level for potential price action. A bounce from this level could signal further upside.

• The stock is also testing the point of control (POC), a significant level in volume profile analysis. This suggests that buyers are actively defending this price level, which could lead to a bullish reversal.

• With NVDA (Nvidia) showing strength, there is a possibility of AMD following suit. The correlation between these two semiconductor stocks often leads to similar price movements.

MAJOR EVENTS

MAJOR EVENTS

MARKET OVERVIEW

Index Returns

Fear and Greed Index

THANKS FOR READING

We hope you found this week's newsletter insightful and informative. Stay tuned for more updates, analysis, and watchlists from The Forex Buzz. Remember, the key to successful trading is staying informed and making informed decisions. Thank you for being a part of our community, and we look forward to bringing you more valuable content in the future. Until next time, happy trading!