The Week Ahead – The Fed are in the Mood!
![](https://assets.iorbex.com/blog/wp-content/uploads/2024/08/30123139/The-Week-Ahead-55.png)
NAS 100 begins sliding
![NAS 100 sliding as the tech stocks face resistance and potential for further decline.](https://assets.iorbex.com/blog/wp-content/uploads/2024/08/30115208/Nasdaq-chart-20.08.2024.png)
The Tech stocks hit a barrier as all three major American indices witnessed a pullback. With Nvidia surging more than 150% so far this year, many investors are worrying how much more room there is for the stock to move. With Amazon and Alphabet sliding more than 1%, the AI bubble might not be about to burst, but there are warning signs of an increased slowdown. More dovish earnings from the big stocks could move the index below 18500, with 19750 as the first resistance.
NZDUSD hits a fresh high
![NZDUSD showing a recent high with potential for further gains and key support levels.](https://assets.iorbex.com/blog/wp-content/uploads/2024/08/30115233/NZDUSD-chart-20.08.2024.png)
The Kiwi has seen a slight pullback on a multi-month high as price action attempts to move higher. January’s high towards 0.6300 has seen a rally of over 300 pips so far. Investors have supported the Kiwi against the US Dollar, and the Kiwi’s performance against other major peers has remained resilient, even though traders expect that the RBNZ will cut interest rates this year. Depending on how aggressive they are, the volatility of the pair will be determined. A lack of a bearish catalyst could send the Kiwi to 0.6380, with 0.6250 as the first support.
UKOIL meets heavy rejection
![UKOIL experiencing a bearish trend with current resistance and ongoing volatility.](https://assets.iorbex.com/blog/wp-content/uploads/2024/08/30115322/UKOIL-chart-20.08.2024.png)
Oil prices remained bearish with concerns over Chinese demand and elevated risks of a slowdown. Potential supply losses from the Middle East and Libya capped the decline. Supply risks in Libya are in focus, but traders seem positive. With demand in China remaining weak, the expected rebound has yet to show credible signs of commencing as the black gold remains choppy. Brent crude is testing a recent low at 76.50, and 79.00 is the first resistance.