This Week's Top Trade Ideas (April 1-5)

👋 Good Morning!

Welcome to this today’s edition of The Forex Buzz newsletter! Get ready for another exciting day in the market 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.

Join Our Free Discord Community

Enhance your trading experience by joining our free Discord community. Gain access to more in-depth analysis, exclusive trade ideas, and connect with fellow traders.

Click here to join!

FEATURED TRADE IDEAS

Nasdaq - $NQ

The NASDAQ, renowned for its technology and growth-focused listings, is currently displaying a bullish trend. Forming a bull flag pattern, NASDAQ is poised to test the bottom trendline and the 0.5 Fibonacci retracement level at 18357. Failure to hold these levels could lead to a test of support at 18274, potentially signaling a more significant downturn. Despite short-term fluctuations, NASDAQ has been on an uptrend since January 5, indicating a favorable outlook for further upward movement.

Technical Analysis

• NASDAQ (NQ) is forming a bull flag pattern, suggesting a potential continuation of the uptrend.

• The index is likely to test the bottom trendline and the 0.5 Fibonacci retracement level at 18357.

• If this level fails to hold, the next support is at 18274.

• Despite short-term fluctuations, NASDAQ has been in an uptrend since January 5, indicating a bullish bias.

Overall, the outlook for NASDAQ remains positive, with a potential continuation of the uptrend expected.

EUR/USD

EUR/USD, a major currency pair, is currently testing a historically strong trendline support. This support, coupled with the uptrend that began on October 3rd and significant volume supporting the current level, suggests a bullish outlook. Traders should watch for a potential bounce from the trendline support, indicating a continuation of the uptrend.

Technical Analysis

• EUR/USD is currently testing trendline support, which has historically proven to be a strong level since October 3rd.

• Volume profile analysis shows a substantial amount of volume supporting the current level, suggesting a potential bounce from the trendline support.

• Traders should watch for price action around this level for confirmation of a bounce and potential continuation of the uptrend.

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!