NASDAQ index is getting closer to its 50 hour moving average

Technical Analysis

Author: Greg Michalowski | nasdaq

Key technical level for the index

The NASDAQ index is trading up around 154 points or 1.42% at 10933. The high price for the day reached 10934.81. That level is just short of its 50 hour moving average at 10938.75. See earlier post outlining this target by CLICKING HERE.

The price closed below that moving average on a late selloff on Thursday, and has not been above that level since that time. Moving above would tilt the bias more to the upside. Stay below keeps the sellers still in play (we could see a corrective rotation back to the downside).

Key technical level for the index_
The dollar has moved a little lower as stocks move higher, but still remains nearer the highs in many of the pairs (but off session highs). The exception is the USDCAD which has been moving sideways vs the USD today.

The changes of the major currency pairs
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