Analytics

News, Trends & Analytics 09.09.2020

Are the bulls leaving Tesla stock?

Today, the focus is on the pace of GDP contraction in Japan and the EU, the promise to unveil the Xbox S, and Tesla’s insider deal.

 

Calendar

14:00 UTC

The Bank of Canada will decide on the interest rate. The regulator is expected to keep the rate at the previous level of 0%, however, the event may cause an increase in the volatility of currency pairs with CAD.

Assets for trading: USD/CAD, EUR/CAD

News

Japan’s quarterly GDP fell by 7% against the forecast of -8%. Affects JPY


The GDP of the European Union in the II quarter decreased by 14%. Affects EUR


Kimbal Musk is selling off Tesla shares. Affects Tesla


Another provocation took place on the border of India and China. Affects Gold


Microsoft confirms plans for compact Xbox S console. Influencing Microsoft

 

Technical Analysis

Tesla

The company’s shares, after an incredible rally, have probably exhausted the limit of investor confidence. It is possible that the decline in quotations could be a consequence of the actions of Kimbal Musk, who sold 36 thousand Tesla shares.

The negative trend may continue to 353, where it’d pass the support level.

Bitcoin

The main cryptocurrency has broken the upward support level. Against this background, sellers may become more active. However, the community is actively discussing the transfer of cryptocurrency deposits to exchanges. This may indicate the preparation of large investors for purchases.

GBP/USD

The decline in quotations is due to negative expectations regarding trade negotiations between the EU and the UK. From the point of view of technical analysis, the downward movement may continue to 1.

 

GPB/USD on this day in history

  • Since 2000, Sept 9th has been a trading day 13 times.
  • On 76% of those days, the asset finished trading with growth.
  • The maximum strengthening range was 0%.
  • The downward trend was limited to 1%.

 

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