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.



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
Oil - US Crude
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
More View more
Real Time News
  • What are some monetary policies that could affect Gold this quarter? Get your Gold free forecast here: #DailyFXGuides
  • Even more remarkable than the record high levels of leverage registered in US equities this past week was the attention it garnered. Paying attention to risk is a threat when markets are this high and the docket as dense as it is this week. My outlook:
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here:
  • Are you new to trading? Technical analysis of charts aims to identify patterns and market trends by utilising different forms of technical chart types and other chart functions. Get a refresher on technical analysis or begin building your knowledge here:
  • USD hegemony is at risk thanks to changes in the global economy and the long-term consequences of the US-China trade war. Get your market update from @CVecchioFX here:
  • Did you know a Doji candlestick signals market indecision and the potential for a change in direction. What are the top five types of Doji candlesticks? Find out
  • Use this technical analysis pattern recognition skills test to sharpen your knowledge:
  • The formation of several bullish technical patterns suggests that the haven-associated Japanese Yen is at risk of further losses against the Euro and Australian Dollar. Get your market update from @DanielGMoss here:
  • Natural gas is moving lower after weather models pointed to warmer-than-average temperatures across much of the US. Get your market update from @FxWestwater here:
  • Gold and silver prices may continue to rise in the coming months on the back of falling real rates of return and the prospect of additional fiscal support under a Biden administration. Get your market update from @DanielGMoss here:
FTSE 100 Remains Stable Above April Monthly Low

FTSE 100 Remains Stable Above April Monthly Low

Alejandro Zambrano, Market Analyst

Talking Points

  • The FTSE 100 bounced from the critical April low of 6060 on Friday and was at the time of writing, short-term bullish.
  • However, given the sharp downtrend from the April 21 high of 6430, it may take a few days for the bearish momentum to wear off and instead the FTSE 100 might be viewed as trading sideways between Friday’s low and yesterday’s high.
  • A Bloomberg News poll projects that the U.K. Total Trade Balance deficit will narrow from -£4840 to -£4200.

Yesterday, the FTSE 100 snapped its downtrend as it stopped to create lower highs, a trend which had been in place since April 21.

The price rose to 6177 and appears to have created a higher low this morning, as it is leaving yesterday’s low of 6108 behind itself. We note that yesterday’s low of 6108 is a higher low in relation to last week’s low of 6054, this a pattern of higher lows and higher highs, indicating that the short-term trend is bullish.

However, we note that it could be a fragile short-term trend, as the slope of the downtrend in place since April 21 was steep and following a steep downtrend, it may take a few days for the bearish bias to wear off. With this in mind, some might view the last two days of price action as sideways rather than bullish. With this view, last week’s low of 6054 and yesterday’s high of 6177 are merely keeping the FTSE 100 trapped, and the true trend will not reveal itself until a break to this range occurs.

Beyond the above-mentioned price range, the following support and resistance levels are relevant. Support levels below last week’s low are the March 10 low of 6006 and the February 24 low of 5841. The resistance levels above yesterday’s high are the intraday high of 6210, formed in the afternoon of May 3, and the April 27 high of 6341.

We note that a break to last week’s low could draw the biggest attention, as price trading below 6054 would mean that price would be trading below the April monthly low of 6060. On price trading below its April low, the bullish trend in place since February might end. The sequence of higher swing lows since February is 5496, 5841, 6006, and 6060.

We note that the DailyFX Speculative Sentiment Index (SSI) is showing a reading of -1.4, implying that traders are net-short the CFD: UK100 and might provide a bullish bias to the UK100.

A Bloomberg News poll projects the U.K. Total Trade Balance deficit narrow from -£4840 to -£4200. This is the only U.K. data report on deck today.

Our Stock Market forecasts for Q2 2016 are now live on the site. Download them for free.

FTSE 100 | CFD: 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

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