The NASDAQ100 index has experienced impressive growth, climbing over 25% since early April predictions. Last week, it reached a peak of $21,483, then fell to $20,778, and is currently trading at $21,378, which aligns with earlier forecasts. Utilizing the Elliott Wave method has effectively tracked these market movements.

Market Predictions

We are now in the orange W-5 phase, anticipating further developments. The expectation is for the index to reach $22,000 before possibly dropping to $21,000, then rising again to between $22,400 and $22,900. This forecast hinges on maintaining levels above $20,778, especially above $20,613. Additionally, NZD/USD is moving towards 0.6000 after a rate cut by the RBNZ. USD/JPY has fallen to 144.00 following recent comments from Japan. Gold continues its rise towards $3,300 due to geopolitical tensions, while Bitcoin shows promise from significant institutional buying, with $2.9 billion entering ETFs. Trading foreign exchange carries high risks, including the potential loss of the entire investment. It’s essential to understand these risks and plan carefully before engaging in forex trading. The NASDAQ100 has had an extraordinary rise since April, surpassing 25%. It peaked at $21,483 last week, then fell to $20,778 before bouncing back to $21,378. These fluctuations align closely with earlier analyses based on the Elliott Wave theory, which continues to guide our projections. Currently, we’re in the fifth orange wave, suggesting slowing momentum but still potential for growth. We are looking for a push above $22,000, serving as a key psychological and technical target. This could lead to sellers stepping in and driving prices back down to $21,000, possibly to balance the market. If that happens, we could see upward momentum again, targeting the $22,400–$22,900 range. Maintaining levels above $20,778 is vital for this outlook. If we slip below $20,613, the bullish scenario could be at risk.

Global Market Trends

Considering this, tread carefully with derivative positions linked to the NASDAQ100 in the upcoming sessions. Using risk-defined strategies that favor upward movement—with planned exits below key support levels—can capitalize on current market structures while protecting against overexposure if the fifth wave underdelivers. In other markets, NZD/USD shows weakness after New Zealand’s recent rate cut. While the path to 0.6000 is not straightforward, it reflects interest rate shifts in the FX market. This could also signal opportunities for carry trades with limited downside risk if dovish trends continue. The decline of USD/JPY to 144.00, influenced by comments from Japan, highlights sensitivity to verbal cues. This recent drop indicates traders expect a more responsive stance from Tokyo. Shorting on rallies could provide advantages, especially if more signals from Japanese officials arise. Gold is moving deliberately, driven by increased geopolitical risks pushing prices to $3,300. Strong demand supports this upward trend, making it wise to stay aligned with it, particularly on pullbacks that stay above previous breakout levels. Bitcoin has attracted $2.9 billion into ETFs, indicating serious interest from major investors ready to jump in. This capital flow deserves attention—not for hype but for strategic positioning. Continuous inflows could adjust what seem like stretched levels higher. Synthetic long positions with controlled downside exposure could be beneficial if buying stays strong. Remember, leverage in forex and derivatives is a double-edged sword. Terms like “support” or “confirmation” don’t matter without proper position sizing and exit strategies. Always prioritize risk management before pursuing market accolades. Create your live VT Markets account and start trading now.

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