The NAS100 (also known as NASDAQ 100) is an index that represents the performance of the top 100 non-financial companies listed on the NASDAQ stock exchange. As an index, it cannot be directly traded in the forex market. However, there are certain forex pairs that tend to have a strong positive correlation with the NAS100 due to their similar economic and market factors.
The most commonly cited forex pairs that tend to mirror the NAS100 include:
USD/JPY - this pair reflects the relationship between the US dollar and the Japanese yen, and tends to have a strong correlation with the NAS100 due to the close economic ties between the US and Japan.
AUD/USD - this pair reflects the relationship between the Australian dollar and the US dollar, and tends to be positively correlated with the NAS100 due to the strong economic ties between Australia and the US, as well as the similar commodity-driven economies of both countries.
GBP/USD - this pair reflects the relationship between the British pound and the US dollar, and tends to be positively correlated with the NAS100 due to the close trade and investment ties between the UK and the US.
USD/CAD - this pair reflects the relationship between the US dollar and the Canadian dollar, and tends to be positively correlated with the NAS100 due to the close economic and trade ties between the US and Canada, as well as the similar commodity-driven economies of both countries.
It's important to note that correlations between currency pairs and the NAS100 can change over time and may not always be consistent, so traders should always conduct their own analysis and use multiple indicators to make informed trading decisions.
The most commonly cited forex pairs that tend to mirror the NAS100 include:
USD/JPY - this pair reflects the relationship between the US dollar and the Japanese yen, and tends to have a strong correlation with the NAS100 due to the close economic ties between the US and Japan.
AUD/USD - this pair reflects the relationship between the Australian dollar and the US dollar, and tends to be positively correlated with the NAS100 due to the strong economic ties between Australia and the US, as well as the similar commodity-driven economies of both countries.
GBP/USD - this pair reflects the relationship between the British pound and the US dollar, and tends to be positively correlated with the NAS100 due to the close trade and investment ties between the UK and the US.
USD/CAD - this pair reflects the relationship between the US dollar and the Canadian dollar, and tends to be positively correlated with the NAS100 due to the close economic and trade ties between the US and Canada, as well as the similar commodity-driven economies of both countries.
It's important to note that correlations between currency pairs and the NAS100 can change over time and may not always be consistent, so traders should always conduct their own analysis and use multiple indicators to make informed trading decisions.