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.

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
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bearish
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
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
  • House Financial Services Committee schedules second GameStop hearing for March 17 - BBG $GME
  • Speaker Pelosi says minimum wage increase will not be removed from House Covid bill - BBG
  • Asia-Pacific equities opened broadly lower amid a 'risk off' sentiment following a sour lead from Wall Street overnight. Rising yields and a stronger US Dollar exerted downward pressure over risk assets. https://www.dailyfx.com/forex/market_alert/2021/02/26/Dow-Jones-Falls-on-Rising-Yields-ASX-200-Nikkei-225-Tumble-.html https://t.co/3p7prANkLA
  • The Australian Dollar looks poised to outperform the haven-associated US Dollar and Japanese Yen. However, it may lose ground to the New Zealand Dollar. Key levels for AUD/USD, AUD/JPY and AUD/NZD.Get your $AUD market update from @DanielGMoss here:https://t.co/cuxRxl5WaF https://t.co/MD0ppnO7t6
  • RT @FxWestwater: $NZDUSD, $NZDJPY React as Soaring Treasury Yields Skew Market Risk Profile Link: https://www.dailyfx.com/forex/fundamental/daily_briefing/daily_pieces/asia_am_briefing/2021/02/26/NZDUSD-NZDJPY-React-as-Soaring-Treasury-Yields-Skew-Market-Risk-Profile.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Westwater&utm_campaign=twr $TNX https://t.c…
  • Biden authorized strikes on Iran-backed militant groups. Strike was in response to attacks on US, coalition forces -BBG citing DOD #CrudeOil
  • The commodity-sensitive Canadian Dollar may continue outperforming its major counterparts in the coming weeks. USD/CAD, CAD/CHF, CAD/JPY and EUR/CAD key levels to watch. Get your market update from @DanielGMoss here:https://t.co/KYdUv2lpFC https://t.co/ZZUJ4AZEhc
  • Market Snapshot: Risk aversion is deepening as Friday APAC trade gets going $NZDUSD and $AUDUSD sinking Following declines in #SP500 and #Nikkei225 futures #USD broadly higher, anti-risk Japanese #Yen as well US 10-Year Treasury rates remain higher https://t.co/gQ50vS73P0
  • RBNZ's Orr: To consider settings against types of home lending, financial stability policies can help government housing objectives -BBG
  • RBNZ's Orr: Only focused on inflation, employment targets -BBG
FTSE 100: Consolidating or Rolling Over?

FTSE 100: Consolidating or Rolling Over?

Paul Robinson, Strategist

What’s inside:

  • DAX maintaining its bullish posturing
  • Support and resistance outlined
  • Limited market moving data due out this week; Euro-zone CPI, FOMC minutes tomorrow

Looking for trading ideas? See our Trading Guides.

When we examined the FTSE 100 last Thursday we said the short-term trend was weakening, but that we would continue to run with the bullish inverse head-and-shoulders pattern in play since 2/10. The footsie has been very choppy the past few sessions, literally trading today at the same prices it was last Monday. Slowly rolling over, or merely consolidating for another move higher?

Given the generally healthy appetite for stocks, globally, and trend in the FTSE we are giving the benefit of the doubt to the notion of the index undergoing a period of consolidation prior to higher prices. It also doesn’t hurt that there is a good amount of short-term support in the area. Range lows at 7252 along with the trend-line rising up from the Feb 2 low and H&S neckline. The triple combination of range low/t-line/neckline makes for a solid confluence of technical events worth leaning on. Stay above, staying bullish; break below, turning neutral to bearish.

The consolidation is beginning to take on the shape of a triangle, and with a little more time could help provide a nice breakout scenario from coiled price action. Ideally, an apex develops close to the trend-line rising up from the Feb 2 low before making a break for it.

In any event, further strength should see the inverse H&S to its measured move target (MMT) and record highs from January (7354). A break below beforementioned support could result in a lower high on the daily or a developing range – we’ll delve further into this scenario if it becomes relevant.

FTSE 100: Daily

FTSE 100: Consolidating or Rolling Over?

Created with TradingView

See the 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