Morning Note: Tesla Hits Record High Amid US PMI Focus and Bitcoin's Next Move

Tesla at the Highest price ever and US PMI on the radar

This Monday, the release of the US Industrial PMI and Services PMI data, which may provide direction for the market, draws attention. Meanwhile, prominent assets such as Tesla (TSLA) and Bitcoin (BTC) continue to break historical records but raise questions about the sustainability of their upward trends. In the forex market, EURUSD is at an inflection point, testing critical support, with the risk of a new downward leg. These movements occur amid a scenario of geopolitical uncertainty and global monetary adjustments.

Industrial PMI: Signs of Slowdown

The market is paying close attention to the release of the US Manufacturing PMI. The latest readings have been consistently below 50, indicating contraction in the sector. This scenario reinforces concerns about a possible slowdown in the US economy. Today's reading will be crucial to assess whether the weakening trend continues or whether there are signs of stabilisation in the industrial sector.

Services Sector PMI: A Pillar of the US Economy

On the other hand, the Global Services PMI has been more resilient, with recent readings around 55, indicating expansion. This shows that the services sector continues to be the driving engine of the US economy, driven by domestic consumption and the recovery of the labour market. If today's reading remains at this level or exceeds expectations, it could bring relief to investors, suggesting that the US economy still has solid pillars of support.

Tesla (TSLA): Incredible Rally and Reflections on the Future

Tesla (TSLA) shares reached a historic milestone on Friday, trading at $436.23, the highest value ever. Since October 23, the shares have risen more than 100% without showing any significant pullback. This movement reflects investor optimism about the company's results and prospects, but it also raises the question: how long can the price sustain this trend before a more significant correction? The markets have shown that no rise is infinite, and corrections are natural to consolidate healthy trends. With that, this week will be crucial to observe whether Tesla's upward momentum continues or whether investors begin to take profits, causing a more significant pullback.

EURUSD: Critical Support Tested

EURUSD has fallen nearly 8% since September 25, reflecting the dollar's continued strength and the Eurozone's economic difficulties. The pair has now touched an important support region on the daily chart. The main question is: will EURUSD make a more significant pullback this week, or will it break this support, continuing its downward trajectory towards the next level at 1.0250? Traders should closely monitor upcoming macroeconomic data and central bank statements, which could influence the pair's direction.

Bitcoin (BTC): Heading for the Next Psychological Resistance

Bitcoin (BTC) continues to trade above 100k, consolidating its position as one of the most performing assets in the current financial environment. Despite the recent impressive rally, BTC seems to have the strength to continue its upward movement in the coming days. The next psychological resistance level is 110k, and investors are wondering: how long will it take for BTC to reach this mark? With the growing scenario of global uncertainties, including geopolitical tensions and economic challenges, Bitcoin continues to attract investors worldwide. Investors should be aware that although buying strength remains solid, overbought levels could generate corrections in the short term before new highs.

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Past performance is not indicative of any future results. This information is provided for informative purposes only and should not be construed to be investment advice.