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
Oil - US Crude
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
More View more
Real Time News
  • Heads Up:🇩🇪 Inflation Rate MoM Prel (JUL) due at 12:00 GMT (15min) Expected: 0.5% Previous: 0.4% https://www.dailyfx.com/economic-calendar#2021-07-29
  • Heads Up:🇩🇪 Inflation Rate YoY Prel (JUL) due at 12:00 GMT (15min) Expected: 3.3% Previous: 2.3% https://www.dailyfx.com/economic-calendar#2021-07-29
  • 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: https://t.co/Yl9vM7kO6a https://t.co/Puri16DprK
  • 🇪🇸 Business Confidence (JUL) Actual: 1.9 Previous: -0.9 https://www.dailyfx.com/economic-calendar#2021-07-29
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 93.53%, while traders in France 40 are at opposite extremes with 71.72%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/cpwf1asRZe
  • Please join @CVecchioFX at 7:30 EST/11:30 GMT for his central bank monthly webinar. Register here: https://t.co/xRVdZJNZom https://t.co/C45D6aPRIc
  • Commodities Update: As of 10:00, these are your best and worst performers based on the London trading schedule: Silver: 2.08% Gold: 0.86% Oil - US Crude: 0.49% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/gWiVFBgXuV
  • Forex Update: As of 10:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.67% 🇨🇦CAD: 0.47% 🇬🇧GBP: 0.38% 🇪🇺EUR: 0.28% 🇨🇭CHF: 0.18% 🇯🇵JPY: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/bdhmxpyRrk
  • Heads Up:🇪🇸 Business Confidence (JUL) due at 10:30 GMT (15min) Previous: -1.1 https://www.dailyfx.com/economic-calendar#2021-07-29
  • Indices Update: As of 10:00, these are your best and worst performers based on the London trading schedule: FTSE 100: 0.81% France 40: 0.72% Wall Street: 0.43% Germany 30: 0.33% US 500: 0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/udphpYMn5y
FTSE 100 Failing to Inspire, Support About to Come Under Fire

FTSE 100 Failing to Inspire, Support About to Come Under Fire

Paul Robinson, Strategist

What’s inside:

  • FTSE 100 failing to muster a bounce from just above important support zone
  • Favoring more down-side, watch a break of 7100
  • Levels outlined

Trading Ideas and Guides

The last time we looked at the FTSE 100, on Wednesday, it was bouncing fairly aggressively in the morning, but by day’s end that had pretty much failed entirely. Yesterday was a nothing day, and so far in early trade today price action isn’t very inspiring, either. The fact that the FTSE sold off aggressively to just above important support by way of the old record highs (intra-day, October – 7130, closing, 4/’15 – 7104), and is showing virtually no bounce isn’t a good sign (at least not for the longs).

We’re still sitting close to a big level of support, so any drop from here could find it challenging to gain momentum, but if the FTSE takes out 7100, a clear breach of the old highs, watch for increased selling pressure. Levels to watch on the down-side are 7067, then right around 7000, where the June trend-line lies and the high of a key reversal event on 11/10 (6997 to be precise).

To turn this ship around we will need to see some ‘oomph’ develop, buyer willingness to sustain more than an intra-day bounce. Until then, we’re in the neutral to bear camp.

FTSE 100: Daily

FTSE 100 Failing to Inspire, Support About to Come Under Fire

Created with Tradingview

See our Webinar Calendar for a schedule of upcoming live events with DailyFX analysts.

---Written by Paul Robinson, Market Analyst

You can receive Paul’s analysis directly via email by signing 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.

DISCLOSURES