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
Bearish
Oil - US Crude
Bearish
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
Wall Street
Bearish
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
Bearish
GBP/USD
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
USD/JPY
Bearish
More View more
Real Time News
  • $USDMXN continues consolidation as bearish momentum eases and bias attempt to turn to the upside. Get your market update from @HathornSabin here: https://t.co/J9vJ76Lghq https://t.co/pJGnuuyJNQ
  • The US Dollar breaks out of the range bound price action from the first of January going into the inauguration of President-elect Joe Biden. Get your market update from @DavidJSong here: https://t.co/GVxAmCkhP5 https://t.co/OC6g9pGhGy
  • Sterling continues to nudge higher against most major currencies with traders placing their trust in the ongoing UK vaccination plan. Get your market update from @nickcawley1 here: https://t.co/OvFP8Zzz5b https://t.co/rwofebQHTq
  • $EURUSD has dropped sharply over the last few days and may well fall further. However, it is also possible that the bad news is now priced in to the exchange rate and that further weakness will be delayed. Get your market update from @MartinSEssex here: https://t.co/mDGlI1aS6o https://t.co/1xYg0muBJI
  • The Brexit timeline can be followed one event after another. Use this tool from DailyFX research to sharpen your knowledge on the Brexit timeline here: https://t.co/kFDzTWODDo https://t.co/TT1FwFK8cJ
  • Currency exchange rates are impacted by several factors. Are different world leaders a contributing factor? Find out here: https://t.co/4jsORznRTE https://t.co/Uz6LKXdR2k
  • Take a closer look visually at the most influential global importers and exporters here: https://t.co/G58J1dg6y3 https://t.co/fGi6YgqqQt
  • What suits your style of trading stocks or commodities? Find out what are the differences in these two markets here: https://t.co/BnA07cMV0s https://t.co/fdigOgkmio
  • A forex trader is strategic, disciplined and always switched on to the markets. Learn how to build an FX mindset here: https://t.co/tB3aAErd70 https://t.co/Ilqz8BWTk0
  • The final ‘full’ week of the year brings about the last wave of significant event risk from around the globe, including three central bank rate decisions (Fed, BOE, & BOJ). Get your market update from @CVecchioFX here:https://t.co/PhqxSPlngI https://t.co/XX57vSjQwV
FTSE 100 Is About To Meet Its 200-Day-Average

FTSE 100 Is About To Meet Its 200-Day-Average

2016-03-09 08:13:00
Alejandro Zambrano, Market Analyst

Talking Points

  • Price has stalled but the short-term trend remains bullish above the February 29 low of 6034.
  • U.K. Industrial production is on tap today and expected to rise by 0% YoY according to a Bloomberg News Survey.
  • In the afternoon, U.S. Wholesale inventories are expected to decline by -0.2% MoM.

The FTSE 100 is little changed since Wednesday of last week and caution is therefore warranted as the bullish trend (present since mid-February) may be about to end.

However, for now the trend is bullish and price may reach the December 29 high of 6322 as long as the February 29 low of 6034 is respected. Traders not long will probably wait for a break to last week of 6221 as such a move may be what is needed to reinstate bullish momentum.

On the other side, a slide below the February 29 low of 6034 may trigger a multiday decline, taking price to the February 2 low of 5839. Supporting this view is the downward sloping 200-day-average, now trading at 6289.

U.K. Industrial production is on tap today and might move price, with a Bloomberg News Survey projecting a rise of 0% YoY. In the afternoon, U.S. Wholesale inventories are expected to decline by 0.2% MoM and could be more of a market mover.

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.

DISCLOSURES