NDXUSD

The Nasdaq Index is at a pivot level of 2404.41. Important support levels for the index stand out as 2371.59, 2317.34, and 2292.51, while resistance levels to watch in upward movements are 2428.81, 2481.66, and 2551.38. The most significant factor that will determine the course of the Nasdaq this week will be the speech by Fed Chair Powell on Tuesday and the US employment data on Thursday. If Powell uses statements that strengthen expectations for interest rate cuts or if the unemployment rate exceeds expectations, it may positively affect the valuations of technology stocks, causing the Nasdaq to break the resistance at 2428.81 and head towards the 2481.66 level.