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
  • 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:
  • Will the Swiss Franc find reprieve after recent losses against the Canadian and New Zealand Dollars as NZD/CHF and CAD/CHF uptrends face key chart barriers? Find out from @FxWestwater here:
  • The Australian Dollar may be at risk of losses against the New Zealand Dollar after an unexpectedly high NZ inflation reading sent AUD/NZD towards challenging short-term rising trend support. Get your $AUD market update from @ddubrovskyFX here:
  • Japanese candlesticks are a popular charting technique used by many traders, and the shooting star candle is no exception. Learn about the shooting star candlestick and how to trade it here:
  • The gold price rebound keeps XAU/USD within the confines of the August downtrend. From a trading standpoint. Get your $XAUUSD market update from @MBForex here:
  • Gold recovered from a steep sell-off this morning to finish the day just lightly lower $XAU $USD
FTSE 100 Technical Analysis: Following Through on Early Week Reversal

FTSE 100 Technical Analysis: Following Through on Early Week Reversal

Paul Robinson, Strategist

What’s inside:

  • FTSE 100 following through on failed breakout, reversal day
  • Sinking into support, 6149 the floor before…
  • The door could get opened for a move towards 6050

The last time we discussed the FTSE 100, we pointed out its inability on Tuesday to sustain its gains once it had broken out above prior resistance around the 6275/300 area. The subsequent intra-day reversal led to the formation of a classic bearish bar-type frequently referred to as a ‘pin bar’. Call it whatever you like, it was bearish; especially since it constituted a failed attempt to capture higher ground above known resistance.

The day following the reversal event the market rebounded, but was unable to recapture the prior day’s reversal, giving traders an opportunity for better pricing on shorts and stop placement above the Tuesday high of 6324. On Thursday, the FTSE sold off as anticipated by dropping a little over 1%.

So where are we now? The FTSE futures are currently sinking below the support zone between roughly 6200 and 6175, nearing the 6/1 low at 6149. The market is still generally range-bound, not just in the UK where uncertainty remains over the EU vote, but across major global equity markets. Not long ago we noted that we believed we might be seeing another range etch itself out at higher levels from the range created in May. However, if 6149 breaks with momentum then we look for selling to take the FTSE down to an even larger area of support around the 6050 level.

FTSE 100 Daily

FTSE 100 Technical Analysis: Following Through on Early Week Reversal

Find out what the #1 mistake traders make.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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