The Nasdaq continues to assert the strength of its bullish trend as prices steadily move within an upward channel on the 1-hour timeframe. The consistent price structure forming higher highs and higher lows indicates that buyers remain in control, while any selling pressure observed thus far appears to be merely corrective. This situation reflects a sustained positive market sentiment, reinforcing expectations that the upward movement may continue during the upcoming European session.
From a technical perspective, the upward-moving Moving Averages serve as a strong indicator that the bullish trend is still in a healthy state. As long as prices remain above the Moving Averages and stay within the bullish channel, the likelihood of further increases remains prominent. The balance between a well-defined trend structure, stable momentum, and controlled volatility provides a solid foundation for the Nasdaq to maintain its upward trajectory in the European session.
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This upward momentum is further reinforced by the MACD indicator, which has begun to rise into positive territory, reflecting ongoing buying momentum. With comprehensive support from the Moving Averages, MACD, and the maintained bullish channel, the Nasdaq holds a significant opportunity for a short-term rally. The nearest target is now focused on an important resistance level around 25,790 in the upcoming European session.
Technical Reference: buy as long as it remains above 25,590
Potential Take Profit 1: 25,758
Potential Take Profit 2: 25,790
Potential Stop Loss 1: 25,623
Potential Stop Loss 2: 25,590
