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. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
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
  • While the #AUDUSD downtrend seems to have tentatively resumed already, the reasons for it to continue that are described here still look valid
  • Looking at the moves in the #DollarIndex and #gold in the days after US CPI this week, @tastytradeRyan, @victorJ0NES and I were on to something here... Bring on #FOMC!
  • Copper prices eye key support to resume downtrend - #HG1! chart
  • $USD to next resistance at 93.20 next levels up 93.43 and then the 2021 high at 93.73
  • USD/JPY extends the rebound from the weekly low (109.11) as the stronger-than-expected US Retail Sales report fuels speculation for an imminent shift in monetary policy. Get your market update from @DavidJSong here:
  • $ES from resistance to support now at the weekly low, testing a few different support elements here, also a 618 $SPX
  • The $SPX is going to keep it interesting for us through this final trading session. The 50-day SMA is under strain, its 'quad witching' today, evergreen uncertainty over weekend and FOMC on the threat radar
  • The S&P 500 and its counterparts are leaning into support as the end of the week nears. DailyFX's @JohnKicklighter discusses the possibility of a break before next week's FOMC and Evergrande deadline!
  • You're Not The Only One Bored Of 'New' Apple iPhones via @IBDinvestors
FTSE 100: The Next Few Days Could Be Crucial

FTSE 100: The Next Few Days Could Be Crucial

Alejandro Zambrano, Market Analyst

Talking Points

  • Traders are not as committed to the bearish side as during yesterday’s ECB meeting and price is trapped in a narrow range; a break to this range could set the tone for next week.
  • A break to last week’s high of 6221 may open the door for gains, while on a break to yesterday’s low of 6011, the trend could turn distinctly bearish.
  • There are no major macroeconomic indicators on tap.

Traders are not as committed to the bearish side as during yesterday’s ECB meeting, and as a result of this, the FTSE 100 has regained some of its losses.

From a technical point of view, a break to last week’s high of 6221 may open the door for gains to the December 29 high of 6322 and could be seen as an ‘approval’ of the ECB’s actions and stock market positive. If the FTSE was to take out its December 29 high of 6322, the next target could be the December 12 high of 6449.

On the other hand, a break to yesterday’s low of 6011 and continuing trend would appear to have turned distinctly bearish and may be seen as a dissatisfaction of the ECB’s looser monetary policy. In this scenario, the next support level in line and target for bearish traders could be the February 24 low of 5839, with a break to his level potentially opening up the door for a decline to the current yearly low of 5495.

Do we have a potential bellwether?

Ahead of the ECB meeting, market chatter did point out that both negative interest rates and low long-term yields remained factors in hurting the profitability of banks.

Market reaction in shares of some of the biggest banks in Europe (HSBC Plc., BNP Paribas, Credit Agricole Group, and Deutsche Bank) are so far positive, with the exception of HSBC Plc. Further gains in the shares of these banks could act as some sort of bellwether for stocks as well as highlighting market persuasion on the ECB’s latest move.

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

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.