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.

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
Bullish
Oil - US Crude
Mixed
Wall Street
Bullish
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
Mixed
More View more
Real Time News
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.36%, while traders in France 40 are at opposite extremes with 70.16%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/HYs8jzZrmf
  • Forex Update: As of 04:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.19% 🇦🇺AUD: 0.11% 🇨🇦CAD: 0.09% 🇨🇭CHF: 0.05% 🇯🇵JPY: 0.03% 🇬🇧GBP: 0.01% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/Jntw19iZKD
  • Indices Update: As of 04:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.41% France 40: 0.22% Germany 30: 0.21% US 500: 0.15% FTSE 100: 0.13% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/uA7dhYQvQx
  • Chinese stocks rallied following PBOC's liquidity injection: - CSI 300 (+1.49%) - Hang Seng Index (+1.16%) - Hang Seng Tech Index (+2.23%) https://t.co/7j4DJu6YZD
  • There are three major forex trading sessions which comprise the 24-hour market: the London session, the US session and the Asian session. Learn about the characteristics of each session here: https://t.co/reRmDe1Ksp https://t.co/hwp2EU0zEm
  • "Wall Street Futures Update: Dow Jones (+0.39%) S&P 500 (+0.12%) Nasdaq 100 (+0.04%) [delayed] -BBG"
  • Commodities Update: As of 02:00, these are your best and worst performers based on the London trading schedule: Silver: 0.61% Gold: 0.23% Oil - US Crude: 0.09% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/UQpIKV2jEZ
  • Natural gas prices have recaptured a key trendline after a major heatwave sent energy demand in the United States soaring. Get your market update from @FxWestwater here:https://t.co/7DdcMrObKp https://t.co/G3OuF7Y5IB
  • Forex Update: As of 02:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.17% 🇦🇺AUD: 0.11% 🇪🇺EUR: 0.10% 🇬🇧GBP: 0.06% 🇨🇦CAD: 0.04% 🇯🇵JPY: 0.02% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/lqLaaO04eh
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 90.38%, while traders in France 40 are at opposite extremes with 70.61%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/KYpAOemcJX
FTSE 100: Risk Skewed Downward Ahead of BoE

FTSE 100: Risk Skewed Downward Ahead of BoE

Paul Robinson, Strategist

What’s inside:

  • FTSE 100 technical structure altered after recent sell-off
  • Support and resistance levels outlined
  • BoE tomorrow, be on high volatility alert regardless of expectations

A week ago when we last examined the FTSE 100 we were noting the bull-flag breakout and possible turn higher from a pullback after the bullish trigger, but that was not to be as the pullback turned into quite a bit more than just that. Downward momentum kicked in on Friday when the US market was hit hard, spilling over into Monday trade.

We had previously been noting the series of higher lows and higher highs in place shortly after the post-Brexit rebound began to unfold, but recently said if the 9/1 pivot at 6722 doesn’t hold then the upward trend would be put in jeopardy of breaking.

So it is, the nice neat upward parallel structure is broken and a lower low is in place, opening the door up for further losses. The next support level comes in by way of the 8/3 pivot at 6611, then beyond there we will need to turn to the 6430/490 zone.

The area around 6735/70ish will be the first spot we look for the market to find difficulties on any advance higher which may unfold; this is the area we will look to as not only a capper but also a spot for shorts to look for entries.

FTSE 100: Risk Skewed Downward Ahead of BoE

Heads up: Tomorrow, the BoE is due out with a decision on its current monetary policy stance and release of the policy statement. No expectations for any changes to be made, but the statement could hold language which provides the markets with enough guidance one way or another to potentially jostle things up, so as per usual – expect the unexpected and be prepared accordingly.

Hone your skills as a technical trader and check out one of several free trading guides designed for traders of all levels of experience.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinonFX.

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

DISCLOSURES