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
Oil - US Crude
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
  • What is your forex trading style? Take the quiz and find out:
  • The ISM manufacturing index plays an important role in forex trading, with ISM data influencing currency prices globally. Find out about the recent history of ISM data, how to track it, and how to trade its release here:
  • The continuity seen across these volatility cycles is a good thing. Historical precedence offer a blueprint for identifying conditions supportive for a vol-event to occur, and how they may unfold. Deepen your knowledge of historical volatility here:
  • There’s a strong correlation between interest rates and forex trading. Forex is ruled by many variables, but the interest rate of the currency is the fundamental factor that prevails above them all. Learn how interest rates impact currency markets here:
  • Many people are attracted to forex trading due to the amount of leverage that brokers provide. Leverage allows traders to gain more exposure in financial markets than what they are required to pay for. Learn about FX leverage here:
  • GDP (Gross Domestic Product) economic data is deemed highly significant in the forex market. GDP figures are used as an indicator by fundamentalists to gauge the overall health and potential growth of a country. Learn use GDP data to your advantage here:
  • Traders utilize varying time frames to speculate in the forex market. The two most common are long- and short-term-time frames which transmits through to trend and trigger charts. Learn more about time-frame analysis here:
  • Emotions are often a key driving force behind FOMO. If left unchecked, they can lead traders to neglect trading plans and exceed comfortable levels of risk. Read on and get your emotions in check here:
  • 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:
  • Implementing a trading checklist is a vital part of the trading process because it helps traders to stay disciplined, stick to the trading plan, and builds confidence. Learn how to stick to the plan, stay disciplined, and use a checklist here:
FTSE 100: Maintaining Trend Support; Risk Appetite, Pound Helping

FTSE 100: Maintaining Trend Support; Risk Appetite, Pound Helping

Paul Robinson, Strategist

What's inside:

  • The FTSE continues to hold trend-line support
  • A drop below won't shun bulls until a decline below horizontal support
  • Global risk appetite is somewhat supportive

The FTSE 100 continues to hold onto trend-line support rising up from around the ‘Brexit’ vote, a positive development overall, and one which we will continue to use as a guide in the days to come. A drop below the trend-line doesn’t mean the trend is over, but it would suggest it has weakened at the least. A decline below peaks extending back to the middle of August would be the cause for pause on longs.

Generally speaking, global risk appetite has been supportive for stocks. We certainly don't have a rip-roaring, snatch up all-things-risk environment, but general sentiment is strong enough to keep stocks buoyed. Last night the Nikkei pushed to its best levels since May. In Europe, the DAX and CAC 40 are both nearing multi-week highs, while the U.S. has become the laggard, with a posturing somewhere in the middle of its recent range, but holding up.

Also, keep in mind the weak pound is helping keep a bid in the FTSE 100 given its level of multi-national exposure. The current 21-day correlation stands at -70%, but has strengthened in the past week or so from a near -90% reading. It's not a relationship we are looking at with a microscope, but one worth keeping tabs on.

For now, as long as the FTSE continues to trade above the trend-line or the prior peaks turned support and 10/13 low at 6930, then our bias is neutral to higher. No material resistance to speak of will arrive until around the record highs set on Oct 11 at 7129.7. If global stocks turn materially weaker and/or the pound turns sharply higher, then expect support levels to come under siege.

FTSE 100: Daily

FTSE 100: Maintaining Trend Support; Risk Appetite, Pound Helping

Created with Tradingview

Start improving your technical analysis skills today and check out one of our several free trading guides designed for traders of all experience levels.

---Written by Paul Robinson, Market Analyst

To receive Paul’s analysis directly via email, please sign up here.

You can follow Paul on Twitter at @PaulRobinonFX.

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