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
EUR/USD
Bearish
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
Wall Street
Mixed
Gold
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
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
Bullish
More View more
Real Time News
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇳🇿NZD: 0.64% 🇦🇺AUD: 0.51% 🇬🇧GBP: 0.40% 🇯🇵JPY: 0.10% 🇨🇭CHF: 0.07% 🇪🇺EUR: 0.04% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/QAhXdDRIfi
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.49% US 500: 0.42% FTSE 100: 0.34% Germany 30: 0.28% France 40: 0.08% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/eQC60R71rR
  • $EURUSD Rates May Extend Slide Lower on #Covid_19 #SecondWave Fears ⬇️ https://www.dailyfx.com/forex/fundamental/daily_briefing/session_briefing/euro_open/2020/09/25/EURUSD-Rates-May-Extend-Slide-Lower-on-Covid-19-Second-Wave-Fears-.html?CHID=9&QPID=917708&utm_source=Twitter&utm_medium=Moss&utm_campaign=twr https://t.co/eWYXYmWLPm
  • 🇬🇧 Public Sector Net Borrowing (AUG) Actual: £-35.2B Expected: £-35.1B Previous: £-15.44B https://www.dailyfx.com/economic-calendar#2020-09-25
  • Have you been catching on your @DailyFX podcast "Global Markets Decoded"? Catch up on them now, before new episodes release! https://t.co/Twr44cZ1GB https://t.co/oqbtFfeo4K
  • 🇬🇧 Public Sector Net Borrowing (AUG) Actual: £-35.92B Expected: £-35.1B Previous: £-15.44B https://www.dailyfx.com/economic-calendar#2020-09-25
  • The US Dollar, British Pound, and Euro will all be closely watching key geopolitical developments in North America (Powell testimony), the UK (Brexit talks) and Europe (EU summit). Get your market update from @ZabelinDimitri here:https://t.co/q4AJW6PTCu https://t.co/w6ETarBuNl
  • Heads Up:🇬🇧 Public Sector Net Borrowing (AUG) due at 06:00 GMT (15min) Expected: £-35.1B Previous: £-25.9B https://www.dailyfx.com/economic-calendar#2020-09-25
  • $EURUSD break below the neckline of a 2-month Head and Shoulders pattern suggests that a test of the 200-MA could be on the cards. However, with support holding at the 38.2% Fib and the RSI swerving away from oversold territory, could this prove to be a mere false-break? $EUR https://t.co/ZIiVc4gAyP
  • Following recent price action and developing technical patterns, $USDINR may rise while the #nifty50 could be at risk to further losses. Check out my full technical report here - https://www.dailyfx.com/forex/technical/article/special_report/2020/09/25/Indian-Rupee-Nifty-50-Technical-View-USDINR-May-Rise-as-Index-Falls.html?CHID=9&QPID=917702&utm_source=Twitter&utm_medium=Dubrovsky&utm_campaign=twr https://t.co/faEdOS8aMA
FTSE Technical Analysis – March Lows Come Under Assault

FTSE Technical Analysis – March Lows Come Under Assault

2018-10-25 09:30:00
Paul Robinson, Strategist
Share:

FTSE Technical Highlights:

  • FTSE bounce short-lived, probing March lows
  • Macro-top still in effect, important level here

Looking for forecasts, long-term trade ideas, and educational content? We got you covered. Check out the DailyFX Trading Guides page for details.

FTSE bounce short-lived, probing March lows

In last week’s commentary, I looked at the oversold bounce developing in the FTSE with the expectation that it would be just that, a bounce before more selling. Monday’s key-reversal turned momentum lower and has the March low coming under fire.

It’s a big level given the macro-topping pattern in play since last year. The pattern picked up steam back in early August when a lower-high was cemented, bringing in the prospects of a drop to the bottom of the price sequence, or March low. But now that we are there, if it is broken, then even more bearish implications will be brought to light.

Based on the height of the pattern, a break points to a move all the way down to around 5800. But for now, in the short-run we may see a bounce develop off the March low. As has been the case, though, it’s not playing the bounces that holds appeal, rather selling them once momentum stalls.

Continue to monitor global markets as things are beginning to turn ‘macro’. The S&P 500, which has been the lone standout among major global markets, is coming under serious pressure and breaking long-term trend support levels.

FTSE Daily Chart (Testing March low)

ftse daily chart, testing march low

Check out this guide for 4 ideas on how to Build Confidence in Trading.

FTSE Weekly Chart (‘RST’ pattern)

ftse weekly chart, 'rst' pattern

You can join me every Tuesday at 9 GMT for live analysis on equity indices and commodities, and for the remaining roster of live events, check out the webinar calendar.

Tools for Forex & CFD Traders

Whether you are a beginning or experienced trader, DailyFX has several resources available to help you; indicator for tracking trader sentiment, quarterly trading forecasts, analytical and educational webinars held daily, trading guides to help you improve trading performance, and one specifically for those who are new to forex.

---Written by Paul Robinson, Market Analyst

You can follow Paul on Twitter at @PaulRobinsonFX

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

DISCLOSURES