The Fed kept the interest rate on federal funds rate in the range from 0% to 0.25% per annum, according to the communique of the Federal Open Market Committee (FOMC) after its meeting on March 16-17. The decision coincided with the forecasts of economists and market participants. The Nasdaq Composite added 53.64 points (0.4%) to settle at 13525.20 points.
Nasdaq 100, H4
Pivot: 13202.00
Analysis:
Provided that the index is traded above 12980.00, follow the recommendations below:
- Time frame: H4
- Recommendation: long position
- Entry point: 13202.00
- Take Profit 1: 13300.00
- Take Profit 2: 13500.00
Alternative scenario:
In case of breakdown of the level 12980.00, follow the recommendations below:
- Time frame: H4
- Recommendation: short position
- Entry point: 12980.00
- Take Profit 1: 12700.00
- Take Profit 2: 12570.00
Comment:
RSI indicates an uptrend during the day.
Key levels:
Resistance Support
13700.00 12980.00
13500.00 12700.00
13300.00 12570.00
Nasdaq 100, D1
Pivot: 12886.00
Analysis:
Provided that the index is traded above 12200.00, follow the recommendations below:
- Time frame: D1
- Recommendation: long position
- Entry point: 12886.00
- Take Profit 1: 13400.00
- Take Profit 2: 13880.00
Alternative scenario:
In case of breakdown of the level 12200.00, follow the recommendations below:
- Time frame: D1
- Recommendation: short position
- Entry point: 12200.00
- Take Profit 1: 11580.00
- Take Profit 2: 10960.00
Comment:
RSI is bullish and indicates further increase.
Key levels:
Resistance Support
14650.00 12200.00
13880.00 11580.00
13400.00 10960.00
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