This Week's Top Trade Ideas (April 8-12)

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FEATURED TRADE IDEAS

Nasdaq - $NQ

NASDAQ (NQ) has been on a significant bullish trend, but recent news has altered market sentiment. The market saw a significant drop after accumulating at the POC, indicating bearish pressure. Trendline resistance is now a key level to watch, as a retest could lead to further downside.

Technical Analysis

• NASDAQ (NQ) has been in a significant bullish trend overall.

• Momentum has shifted following major news last week, leading to a change in sentiment.

• Before the big drop on Thursday, there was an accumulation phase, creating bearish liquidity at the point of control (POC).

• Trendline resistance is currently in play, adding to the potential for a bearish reversal.

• A retest of the POC and trendline resistance could signal further downside.

USD/CAD

USD/CAD has been following a rising channel since January, with a recent retest of the upper channel on Friday. However, a pullback suggests resistance from sellers, potentially leading to further downside if the pair fails to break convincingly above the upper channel. Traders are advised to watch for continued price action around these levels for potential trading opportunities.

Technical Analysis

• USD/CAD has been trading in a rising channel since January, indicating a bullish trend.

• The pair recently retested the upper channel on Friday, showing a potential resistance level.

• There has been a slight pullback, indicating resistance from sellers.

• Further downside could be expected if the pair fails to break above the upper channel convincingly.

MAJOR EVENTS

MARKET OVERVIEW

Index Returns

Currencies Returns

Fear and Greed Index

THANKS FOR READING

We hope you found today’s analysis 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!