NDXUSD

The Nasdaq 100 index is trying to stay above the pivot level of 22,509.01. The first resistance is at 22,635.17 and the first support is at 22,191.36. Powell's speech on Tuesday and the US employment data to be released on Thursday will be decisive for direction. An employment increase is expected to drop to 120K, and unemployment is expected to rise to 4.3%. The weakening of the labor market could strengthen expectations for a Fed rate cut, supporting technology stocks and potentially directing the index towards the level of 22,826.66. In the US, while the ISM Manufacturing PMI is expected to be 48.8, the Services PMI is expected to be 50.8, which could be a positive factor for the Nasdaq, which is heavily weighted with technology companies. In possible declines, the support at 22,032.54 is of critical importance.