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
Bullish
Oil - US Crude
Mixed
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
Wall Street
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
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Forex liquidity makes it easy for traders to sell and buy currencies without delay, and also creates tight spreads for favorable quotes. Low costs and large scope to various markets make it the most frequently traded market in the world. Learn more here: https://t.co/arxYmtQeUn https://t.co/gFVVZTGbe1
  • Forex quotes reflect the price of different currencies at any point in time. Since a trader’s profit or loss is determined by movements in price, it is essential to develop a sound understanding of how to read currency pairs. Learn how to read quotes here: https://t.co/CNtqrKWDBY https://t.co/nHXiNJhLes
  • A currency carry trade involves borrowing a low-yielding currency in order to buy a higher yielding currency in an attempt to profit from the interest rate differential. Find out if the carry trade suits your trading style here: https://t.co/7t4BzmLg8w https://t.co/h0TmJcZeqr
  • $USDCAD sold off aggressively last week, putting it into position to test the important 2017 low; trading bias is neutral to bearish. Get your market update from @PaulRobinsonFX here: https://t.co/sphxUAW9TB https://t.co/ZhsTeJOOM8
  • Get your snapshot update of the of top level exchanges and key index performance from around the globe here: https://t.co/d8Re5anlG5 https://t.co/qP96xmgDVn
  • The pro-risk Australian Dollar may extend gains after the record miss in US jobs data, amplifying dovish rhetoric from the Federal Reserve and keeping the Dow Jones and S&P 500 intact. Get your market update from @ddubrovskyFX here: https://t.co/yf8mPX3O3W https://t.co/uCCmjaxUhF
  • Who else is keeping close tabs on Dogecoin $DOGE this weekend? All eyes on Elon Musk @elonmusk, the proverbial 'Dogefather,' and his Saturday Night Live @nbcsnl performance kicking off at 11:30PM ET. The #crypto is already looking nice and perky following that trendline break! https://t.co/nrQsnlUqWj https://t.co/4lOz6NLQTG
  • There is some very interesting event risk over the opening half of this coming week of trade. It starts with Elon Musk hosting SNL tonight for Dogecoin traders and moves into US inflation data to as means to stir the ongoing Fed debate and Dollar https://www.dailyfx.com/forex/video/daily_news_report/2021/05/08/Dollar-Tumbles-Dow-Hits-Record-Highs-and-Dogecoin-Traders-Tune-In.html https://t.co/LXhjv7ToWC
  • It was a big week for Gold bulls and Gold prices broke out to fresh two-month-highs, finally taking-out the 1800 level along the way. Get your market update from @JStanleyFX here: https://t.co/D222Ni37Dv https://t.co/KcMYyx3Ro4
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/PjywaPeUsl
Nasdaq 100 Price Gains Continue as Tesla Stock Soars Despite Bubble-Like Conditions

Nasdaq 100 Price Gains Continue as Tesla Stock Soars Despite Bubble-Like Conditions

Peter Hanks, Strategist

Nasdaq 100 Price Outlook:

Nasdaq 100 Price Gains Continue as Tesla Stock Soars Despite Bubble-Like Conditions

The Nasdaq 100 has begun the week on strong standing, enjoying bullish price action despite a modest rise in volatility. While strong US manufacturing data helped bolster the US Dollar and likely assisted equity markets, much of the Nasdaq’s strength has become confined to just a handful of stocks. Apple and Tesla are two of the most noteworthy, both undergoing a stock split on August 31.

Tesla and Apple Charge Higher

tesla, apple and nasdaq 100 price chart

While stock splits do not mathematically alter the value offered by a share of stock, they can make shares more affordable. In the case of Apple, a 4-for-1 split saw prices drop to the $130 range from more than $500 a share. Tesla, on the other hand, saw prices fall beneath $500 from nearly $2400 after a 5-for-1 split. The change in share prices for both Nasdaq-listed companies should allow more investors the opportunity to gain exposure.

As a result, financial news media has suggested a surge in interest for both of these stocks may be likely as a new wave of retail traders enter the fold and try to capitalize on the incredible gains of both AAPL and TSLA. That said, novice investors looking to try their hand in trading by owning Tesla stock may be destined for a trial by fire as Tesla exhibits bubble-like symptoms.

Sentiment Analysis for Forex Trading

In the attached video, we take a quick look at the fundamentals of Tesla and why its stock may have rallied so high. Suffice it to say, there is likely some serious mispricing going on and many seasoned traders have equated recent Tesla price action to conditions during the Dot-Com Bubble.

While a bursted-bubble could disproportionately impact owners of Tesla stock, a swift reversal in Tesla’s share price could also hurt the broader Nasdaq down the line as recent gains have been largely fueled with assistance from the electric automaker. As the Nasdaq presses higher on the back of newfound market cap that is not founded in reduced costs or newfound revenue, it becomes more difficult to justify the current valuation of the index.

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

nasdaq 100 price chart

Further still, price has climbed near the top of an ascending channel that has helped guide the Nasdaq 100 higher since mid-April. With gains being sourced from inorganic growth in just a few hot technology names and technical resistance narrowly overhead, the Nasdaq 100 looks vulnerable at a time when volatility historically rises and in a month when stocks are particularly weak.

Dow Jones Forecast: Index Slips Ahead of Historically Bearish Month

With that said, traders and investors should be wary of the risk-reward profile in some of these hot stocks at this point in time as the potential gains may not outweigh the possible risks. Still, price has exhibited few material signs of an imminent reversal, as current conditions look to be more of a gathering storm rather than an immediate crash. Either way, the Nasdaq 100 may be entering a rocky couple of months ahead and Tesla could be on the cutting edge. In the meantime, follow @PeterHanksFX on Twitter for updates and analysis.

--Written by Peter Hanks, Strategist 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