News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
Subscribe
Please try again
EUR/USD
Bearish
Oil - US Crude
Mixed
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
USD/JPY
Bullish
Low
High
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
More View more
Real Time News
  • $GBPUSD corrects from stretched valuations, however, positioning clear is likely to entice dip-buyers. Get your market update from @JMcQueenFX here: https://t.co/sfFdBx9pN6 https://t.co/j6nnry65SW
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out https://t.co/c51s3IBcEu https://t.co/oQrOpYINOj
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here: https://t.co/Yl9vM7kO6a https://t.co/LSVPlus0vv
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here: https://t.co/J0EPMD2Cfi https://t.co/rPd6B5KzuI
  • Time-cycle analysis suggests that the Japanese Yen could slide significantly lower against its major counterparts. Key levels for AUD/JPY, EUR/JPY and GBP/JPY. Get your market update from @DanielGMoss here:https://t.co/WPq4Z9zzEw https://t.co/VzVLrBbL9q
  • The Australian Dollar looks poised to outperform the haven-associated US Dollar and Japanese Yen. However, it may lose ground to the New Zealand Dollar. Key levels for AUD/USD, AUD/JPY and AUD/NZD. Get your market update from @DanielGMoss here:https://t.co/cuxRxl5WaF https://t.co/pujrmqSxV7
  • Has anyone explained the risk of inflation on the markets in terms of tendies?
  • The US Dollar is trying to break higher versus ASEAN currencies. The Singapore Dollar, Philippine Peso, Thai Baht and Indonesian Rupiah are under pressure. Will follow-through last? Get your market update from @ddubrovskyFX here:https://t.co/JOWG9q01q0 https://t.co/j2ICxgrLa3
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your $USDCAD market update from @DanielGMoss here:https://t.co/9bkVXQuP5C https://t.co/cLNEG36mZ8
  • We just closed out the heaviest week of volume for the $SPY (US equities) since June and $TLT (Treasuries) since March 16
Nasdaq 100 Forecast: Stocks Post Stellar Quarterly Gains Led by Tech

Nasdaq 100 Forecast: Stocks Post Stellar Quarterly Gains Led by Tech

Peter Hanks, Strategist

Nasdaq 100 Price Forecast:

  • The Nasdaq posted a quarterly return of roughly 30% and surpassed key psychological levels
  • Few markets were more aggressive in their recovery than the tech-heavy index
  • Still, surging coronavirus cases may give pause to a continuation higher

Nasdaq 100 Forecast: Stocks Post Stellar Quarterly Gains Led by Tech

Markets closed higher on Tuesday to finish out the second quarter on a high note, despite soaring coronavirus cases and immense economic uncertainty. The S&P 500 and Dow Jones registered their highest quarterly returns since 1998 and 1987 respectively, while the Nasdaq 100 posted its best quarterly return since 1999. In order of appearance, the major US indices returned roughly 19.95%, 17.75% and 30% while the Russell 2000 posted a gain of 25%.

Nasdaq 100 Forecast: Stocks Post Stellar Quarterly Gains Led by Tech

Source: Investing.com and @PeterHanksFX

While many stocks, sectors and indices remain negative in the year-to-date alongside other key risk assets, the Nasdaq 100 is one of the few outliers as it has been dragged higher by just a handful of powerful components. Enjoying a staggering 14.5% gain since January 1, it is easy to see the Nasdaq’s leadership in the demand for risk exposure. To that end, there is little reason to suggest the Nasdaq 100 will not continue to lead other growth-sensitive assets in the coming quarter.

Nasdaq 100 Price Chart: 4 – Hour Time Frame (April 2020 – July 2020)

nasdaq 100 price chart q2 2020

With that in mind, avoiding the development of concerning technical patterns – like the formations that exist on the Dow Jones and S&P 500– may be key in building a continuation higher. Therefore, the nearby Fibonacci level at 9,752 which roughly coincides with the lower-bound of an ascending channel projection may prove crucial in keeping the tech-heavy index afloat.

Equities Forecast
Equities Forecast
Recommended by Peter Hanks
Check out our New Third Quarter Stock Market Forecasts
Get My Guide

Should price break beneath, losses could accelerate and such a development would merit a serious reconsideration of the technical outlook. In the meantime, however, the technical landscape would suggest the Nasdaq is rather comfortable trading within the confines of the channel, even as the Dow and S&P 500 begin to hint at weakness.

--Written by Peter Hanks, Analyst for DailyFX.com

Contact and follow Peter on Twitter @PeterHanksFX

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES