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
Mixed
Oil - US Crude
Mixed
Wall Street
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
Gold
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
GBP/USD
Mixed
USD/JPY
Mixed
More View more
Breaking news

New Zealand Dollar on the move as home prices may be considered in RBNZ's remit

Real Time News
  • RT @FxWestwater: $NZDUSD breaking back above 2019 high on #RBNZ consideration of home prices in remit. Price at the upper bound of a rising…
  • BoJ Governor Kuroda says no shift seen in Fed's policy stance - BBG
  • The New Zealand Dollar surged 0.6% against the greenback after its Finance Minister Grant Robertson raised concerns over rising house prices to the central bank, proposing the RBNZ to consider adding house prices as a factor when making monetary decisions https://t.co/C1poEj06Kr
  • I wonder if any other central banks would follow the lead of the RBNZ on pressure to factor in housing prices in monetary policy. Go way out on a limb and perhaps even consider capital market asset inflation...probably not https://t.co/Cke07Or35H
  • EUR/CHF IG Client Sentiment: Our data shows traders are now net-long EUR/CHF for the first time since Nov 16, 2020 08:00 GMT when EUR/CHF traded near 1.08. A contrarian view of crowd sentiment points to EUR/CHF weakness. https://www.dailyfx.com/sentiment https://t.co/WJ7ZCwf3Ak
  • NZD soaring on this as such an addition to the RBNZ's remit lowers the need to ease policy, given the current backdrop of rampant house prices https://t.co/2fx0VTUOZh
  • BoJ Governor Kuroda: Won't hesitate to add easing if needed BoJ measures are having a positive impact Nervousness in financial markets has eased somewhat - BBG $JPY #BoJ
  • 7 out of 11 S&P 500 sectors ended higher, with 73.1% of the index’s constituents closing in the green on Monday. Cyclical energy (+7.09%) , financials (+1.88%) and industrials (1.64%) were among the best performers, whereas real estate (-0.34%), healthcare (-0.30%) were lagging. https://t.co/bDpvRqEX4u
  • #ASX200 looking poised to extend its recent run higher as RSI climbs back into overbought territory Key resistance levels falling at the 50% (6674) and 61.8% (6755) Fibonacci's $XJO $ASX https://t.co/E7VADxCJ1o https://t.co/T3ICLoE9du
  • Euro Price Action Setups: EUR/USD, EUR/JPY, EUR/GBP Levels to Watch - https://www.dailyfx.com/forex/technical/home/analysis/eur-usd/2020/11/24/Euro-Price-Action-Setups-EURUSD-EURJPY-EURGBP-Levels-to-Watch.html $EUR $EURUSD $EURJPY $EURGBP https://t.co/qxHSS90Rnd
FTSE 100: Keep It Trapped for Too Long and It will Roar Back

FTSE 100: Keep It Trapped for Too Long and It will Roar Back

2015-11-04 08:36:00
Alejandro Zambrano, Market Analyst
Share:

The FTSE 100 remains flat. However, if we were to look at it from a more positive angle, the longer a market trades sideways, the better the trends and momentum will be when following a breakout. In the second chart below you are able to see the price of U.S. crude oil (WTI) in the period from May to June 2015. Crude oil prices traded sideways, but when the price finally breached its range, they never looked back.

The situation for the FTSE 100 is not too different today, however, we do not expect the price to trade sideways for as long as crude oil prices did. There are an ample amount of risk events on tap this week with today’s ISM Services or Friday’s U.S. NFP being the two most likely drivers of a FTSE 100 breakout.

According to a Bloomberg news survey, minor volatility spur reports are also on tap today, namely the Markit UK Services PMI this morning, est. 54.5, and the U.S. ADP report, est. 183k, this afternoon.

Upcoming Risk Events (GMT)

  • 09:00 Markit Eurozone Services PMI (Final), est. 54.2
  • 09:30 Markit/CIPS UK Services PMI, est. 54.5
  • 10:00 E.U. PPI, est.-3.3% YoY
  • 13:15 U.S. ADP Employment Change, est. 180k
  • 13:30 U.S. Trade Balance, est. -$41b
  • 14:45 U.S. Markit US Services PMI (Final), est. 54.5
  • 15:00 U.S. ISM Non-Manf. Composite, est. 56.5

FTSE 100 Levels to Watch

The index is trapped within the 6255-6487 range, with a breach of the upper limit probably triggering a rally towards the psychological level of 6600, and 6750 in case of an extension. If we breach the lower end of the 6255-6487 range, we may reach a 6100 level, (61.88% correction of 5875-6487 rally).

FTSE 100: Watch the 6255-6487 Range

FTSE 100: Keep It Trapped for Too Long and It will Roar Back

Created with Marketscope/Trading Station II; prepared by Alejandro Zambrano

U.S. Crude Oil (WTI) – Range Breakout

FTSE 100: Keep It Trapped for Too Long and It will Roar Back

--- Written by Alejandro Zambrano, Market Analyst

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

DISCLOSURES