NASDAQ passed away from the daily resistance level, only to hop back into the ranging zone, under the resistance. What we are looking at will be the retest of the resistance level, and see a bearish price formation on the pair, which can be an indication of the further down continuation. The price of our retest would be at 13180. 

The ascending trendline is in formation and is on the verge of breakout out from the trendline. 

There is no retracement level on the pair.

EMA 50 is still bullish and we can set the profit target at the retest of the EMA 50.

RSI is at 52. This needs to be dwell into the over bought region nearing the 75. At this level, we will take the sell. 

Fakeout on NASDAQ?

May 03 2023