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. See our updated Privacy Policy here.



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

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
Oil - US Crude
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
  • The Nasdaq 100 index is aiming to breach a key resistance level at 14,950 for a second time. A successful attempt may open the door to further gains, although the MACD indicator flags signs of weakness. Get your equities forecast from @margaretyjy here:
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • Trading Forex is not a shortcut to instant wealth, excessive leverage can magnify losses, and sentiment is a powerful indicator. Learn about these principles in depth here:
  • Although the medium-term outlook remains negative, Bitcoin could make a bullish move in the coming days if prices manage to hold above key support in the $29,150/28,600 region. Get your #Bitcoin forecast from @DColmanFX here:
  • Risk management is one of the most important aspects of successful trading, but is often overlooked. What are some basic principles or risk management? Find out from @PaulRobinsonFX here:
  • Brush up your knowledge on trade-wars with this tool from DailyFX research briefly outlining trade-war history dating back to the early 1900s here:
  • Crude oil prices collapsed on Monday despite an OPEC+ breakthrough, driven by Covid-induced demand woes. Meanwhile, Gold is at odds with a stronger US Dollar and falling Treasury yields. Get your #crudeoil market update from @FxWestwater here:
  • AUD/USD is likely to face increased volatility over the coming days as it faces a batch of key event risks going into the end of July. Get your Australian Dollar forecast from @DavidJSong here:
  • The US Dollar outlook against ASEAN currencies like the Singapore Dollar, Thai Baht, Indonesian Rupiah and Philippine Peso remains bullish amid capital outflows risks as Covid cases swell. Get your market update from @ddubrovskyFX here:
Nasdaq 100 Outlook: Tech Stocks Consolidate Before Next Move

Nasdaq 100 Outlook: Tech Stocks Consolidate Before Next Move

Peter Hanks, Strategist

Nasdaq 100 Price Forecast:

Nasdaq 100 Outlook: Tech Stocks Consolidate Before Next Move

In an unusual turn of events, the tech-heavy Nasdaq 100 lags the Dow Jones this week following news that a coronavirus vaccine may be on the horizon. Offering a boost to corporations with more traditional business models, investors have shied away from technology stocks which sparked a quick reversal in the Nasdaq following Monday’s surge. That being said, the pullback may serve as healthy consolidation as the index ponders its next move and it has already begun to catch up to the DJIA.

Monday’s Biggest Losers Were Those That Benefited During Pandemic

Nasdaq 100 Outlook: Tech Stocks Consolidate Before Next Move

Chart created in TradingView

In the meantime, the Nasdaq 100 may derive influence from nearby technical levels. To the topside, initial resistance might reside from 12,045 to the descending trendline slightly higher, perhaps around the 12,090 mark. This area has already displayed some ability to influence price, evidenced by the indecision around the zone late last week when price attempted to move higher.


Should price press higher still, subsequent resistance might arise along the horizontal lines of the various highs from September, October and November. These stand at 12,466, 12,253 and 12,415 respectively.

Nasdaq 100 Price Chart: 1 – Hour Time Frame (September 2020 – November 2020)

nasdaq 100 price chart

On the other hand, the Nasdaq 100 might seek out support should weakness in the technology sector persist. As evidenced by the bounce in Tuesday’s session, initial support likely resides around the 11,570 to 11,540 zone. If it fails, secondary support may rest at the Fibonacci level near 11,360 and the band of support slightly beneath, around 11,200.

With the Nasdaq treading water between support and resistance, shorter-term directional trades are not particularly attractive in my view – at least at this time. That said, I would argue the fundamental landscape is conducive to further equity gains, so the medium-term outlook is encouraging – even for the Nasdaq which has lagged this week.

Thus, future pullbacks or deeper retracements might bring in the potential for long exposure as long as the September and October lows are not pierced. Should they fail, it might constitute a reassessment of the technical outlook. Aside from that, shorter-term price moves may serve only as healthy consolidation before the next move. In the meantime, follower @PeterHanksFXon Twitter for updates and analysis.

--Written by Peter Hanks, Strategist for

Contact and follow Peter on Twitter @PeterHanksFX

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