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17.02.202307:26 Forex Analysis & Reviews: Technical Analysis of Weekly Price Movement of Nasdaq 100 Index, Friday February 17 2023.

This information is provided to retail and professional clients as part of marketing communication. It does not contain and should not be construed as containing investment advice or investment recommendation or an offer or solicitation to engage in any transaction or strategy in financial instruments. Past performance is not a guarantee or prediction of future performance. Instant Trading EU Ltd. makes no representation and assumes no liability as to the accuracy or completeness of the information provided, or any loss arising from any investment based on analysis, forecast or other information provided by an employee of the Company or otherwise. Full disclaimer is available here.

Exchange Rates 17.02.2023 analysis

If we pay attention on the weekly chart of Nasdaq 100 index, then we can see this few things:

1. Sidewinder (SI) indicator in green which means trending and volatile once.

2. Chopzone (CZ) indicator in cyan blue which means NDX100 condition on the weekly chart is Bullish.

3. Zero Line (ZL) Indicator in green which indicates price is above its LSMA 25-(Bull).

4. Bullish 123 pattern appearance followed by Ross Hook (RH).

Then according to 4 facts above, Nasdaq 100 index on its weekly chart is on healthy Bullish condition so in a few days ahead has the potential to appreciated up to the level 13720,91 as the first target and 15265,42 as the second target if it manages to break above its Ross Hook on the level 11906,11. But pay attention that if on its way to the described targets before suddenly NDX100 corrected down to the level 10440,64 then all of the Bull scenarios that has been explained before will be invalid and cancel by itself.

(Disclaimer)

Arief Makmur
Analytical expert of InstaForex
© 2007-2025

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 66% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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