Nasdaq hold psychological support at 15,000 level and tries to rebound after FOMC minutes reading! 💥
- The tone of today's Fed 'minutes' remains mixed, however, in the first reaction it supported profit taking on the dollar and the EURUSD rebound.
- The US100 has defended the 15,000 point level and is now struggling to reverse its brief downward movement
The Fed minutes show that further hikes in the US may take place in the face of considerable inflationary risks. In view of this, any signs pointing to a larger rebound in inflation beyond the underlying factors could lead to more aggressiveness on the part of the Fed. On the other hand, however, the Federal Reserve is showing that the wicket to keep interest rates unchanged is open, and the risk of the central bank doing 'too much' also exists. The overall tone of the FOMC minutes remains mixed, which indexes may take away in their favor.
Looking at the chart of the US100 on the D1 interval, we can see that an important battle for upward momentum for the rest of the year may play out at current levels. The potential range of the correction is around 14,700 points, where we see the 23.6 Fibonacci retracement, but for the bulls it may be important to maintain the psychological level of 15,000 points. Source: xStation5
