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.

Free Trading Guides
Oil - US Crude
Wall Street
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 US Dollar is attempting to find direction against the Singapore Dollar, Philippine Peso and Indonesian Rupiah as technical levels hold. The Malaysian Ringgit eyes a key trend line. Get your market update from @ddubrovskyFX here:https://t.co/lcSLkOnJgQ https://t.co/vryqn4rRU4
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Gold: 0.01% Oil - US Crude: -0.03% Silver: -0.55% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/15QcnuOwHa
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇨🇦CAD: 0.01% 🇬🇧GBP: -0.02% 🇯🇵JPY: -0.05% 🇪🇺EUR: -0.13% 🇳🇿NZD: -0.22% 🇦🇺AUD: -0.23% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/vPJr6TpvF6
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 96.90%, while traders in US 500 are at opposite extremes with 78.20%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/xNfVZWeHaL
  • The $USD is falling against #ASEAN currencies such as the Singapore Dollar and Indonesian Rupiah as stock markets rise. Watch out for US-China escalation and Brexit talks. Get your market update from @ddubrovskyFX here:https://t.co/PziC8KZaIC https://t.co/IhJHu2WCVZ
  • For those who argue a bullish case for stocks... Let me counter with a single chart of the gold to S&P 500 ratio. Looks to me like risk-reward favors bullion over equities. $XAU $GLD https://t.co/6qiSh8E0ht https://t.co/lKViSEnrMc
  • - Silver prices could pull back as negative RSI divergence shows slowing momentum - Copper prices have risen over 20 percent, are now trading above 17-year uptrend - Monthly perspective show the base metal has entered into a key compression zone https://www.dailyfx.com/forex/market_alert/2020/06/02/Silver--Copper-Prices-Enjoyed-a-Nice-Ride---Is-it-Time-to-Get-Off.html
  • What is it about a colorful Bloomberg Terminal that is so satisfying to look at? https://t.co/Qtv9wwQv75
  • I have finally found a way to express the social climate in San Francisco and the effects of peer pressure: https://t.co/yYFXFHG2Lb
  • The US Dollar, Euro, British Pound and Australian Dollar will all be at the mercy of political developments in Asia, Europe and North America this week. An avalanche of PMI data will set the backdrop.Get your market update from @ZabelinDimitri here:https://t.co/L8cfAgVx94 https://t.co/vwChirq7SL
FTSE 100 At Risk of Rolling Over

FTSE 100 At Risk of Rolling Over

2016-03-08 08:11:00
Alejandro Zambrano, Market Analyst

Talking Points

  • The FTSE 100 is bullish above the February 29 low of 6034 and bearish below.
  • German Industrial Production, published this morning, rose by 2.2% YoY vs. the Bloomberg poll projection of -1.6%. This suggests that the economy is doing better than expected.
  • This afternoon, U.S. NFIB Small Business Optimism Index is on tap and expected to print 94.

The bullish momentum has slowed down significantly over the last few sessions and the FTSE 100 (FXCM: UK100) is trading sideways between Thursday’s low of 6097 and Friday’s high of 6220. This narrow trading range could be the prelude to a bearish reversal, because a break to Thursday’s low will place the buyers of the last few days at a loss. Theses traders could get tempted to book losses and thereby trigger further sell-orders, initiating a bearish downward trend.

A more important level for the markets and the level I am watching is the February 29 low of 6034. On a break to this level, I would expect bearish momentum to be strong enough for the FTSE 100 to reach the psychological level of 5900. However, for now I am giving the bullish trend the benefit of the doubt, and shall assume that the FTSE 100 is to reach the December 29 high of 6322.

German Industrial Production Picks Up

German Industrial Production rose by 2.2% YoY vs. the Bloomberg poll projection of -1.6%, and -2.2% YoY in December. This outcome is much better than expected and suggests that the German economy is doing better than expected.

Eurozone GDP for the fourth quarter is due at 10:00 GMT and expected to rise by 1.5% YoY.

In the afternoon, U.S. NFIB Small Business Optimism Index is on tap and may lift the FTSE 100 if it beats the 94 projected by a Bloomberg News Survey. No other major data report is on tap and trading will be dominated by technical traders.

Stay informed - download the DailyFX Analysts' 1Q forecasts for the Dollar, Euro, Pound, Equities and Gold

FTSE 100 | FXCM: UK100

Please add a description for the image.

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

--- Written by Alejandro Zambrano, Market Analyst for DailyFX.com

Contact and follow Alejandro on Twitter: @AlexFX00

Struggling with Trading? Join a London Seminar

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


News & Analysis at your fingertips.