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
More View more
Real Time News
  • The latest US Conference Board consumer confidence fell to the lowest level since February, the headline reading dropping to 109.3, below expectations for 114.5. Get your $USD market update from @JMcQueenFX here:
  • $SPX Daily . . Know the Levels. . . #SPX
  • ...that said, I like volatility; so by all means, bring in a person that gets these markets rocking and rolling again
  • Saying Powell is a dangerous man is disingenuous. The Fed has done very well with its dual mandate and their efforts to steady the markets for Main and Wall Street has further fed the financial bubbles we continue to blow. $VIX
  • Fed's Powell: The Fed will not be able to shield financial markets and the economy from the fallout of a US default $USD $ES_F $SPX
  • ...also worth noting, this is the Cable's biggest dive (-1.15% at present) since Sep 10, 2020
  • While EURUSD is still holding the floor on its nearly year-long range, $GBPUSD looks like it is making a play for its head-and-shoulders 'neckline' break with this 1.3600 break
  • With the charge in Treasury yields after the debt ceiling warning today, I'm going to move the likes of $TLT (the iShares 20+ year Treasury ETF) closer to the top of my watch list. Let's see where volume ends up today
  • AUD/USD appears to be stuck in a narrow range following the kneejerk reaction to the Federal Reserve interest rate decision. Get your $AUDUSD market update from @DavidJSong here:
FTSE Technical Analysis – Breakout of H2 2017 Range Points to 7850-7900

FTSE Technical Analysis – Breakout of H2 2017 Range Points to 7850-7900

Paul Robinson, Strategist

What’s inside:

  • FTSE well above 7550/600 breakout zone, viewed as strong support should it test
  • Size of range during the second half of 2017 implies potential for a move to 7850/900
  • Longs favored on shallow dips/consolidations, a break below support changes this view

See what’s expected to drive the FTSE and GBP this quarter in the Q1 Trading Forecasts.

In our final post of 2017, we noted that the FTSE has big support in place following the breakout above the 7550/600-area. Tuesday started things off on a bit of a rough note, but so far, the footsie hasn’t really come near testing old resistance as new support.

The size of the range which dominated the second half of 2017 is roughly 300 points in size, which suggests from the point of breakout we could see the market rally by that much. This would put the FTSE up in the 7850/900-area. It would indeed be an impressive rally still yet to come, but certainly within reason.

As long as the 7550/600-area holds, then so does a bullish bias. A breakdown below would suggest a fake-out breakout and that a larger decline is underway. From a tactical standpoint, the path of least resistance at this time favors longs, but waiting for shallow pullbacks and consolidation patterns may be the most prudent way to approach the market.

Struggling right now? We’ve got a guide designed to help you – Building Confidence in Trading.

FTSE: Daily

FTSE daily price chart

---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 @PaulRobinsonFX

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