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.

Free Trading Guides
EUR/USD
Mixed
GBP/USD
Bullish
USD/JPY
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
Gold
Mixed
Oil - US Crude
Mixed
Bitcoin
Bearish
More View more
Real Time News
  • What is the top market moving theme for the coming week? I disagree with the majority. '$EURUSD, $GBPUSD and $AUDUSD Top Volatility Candidates With #Fed, #Election, #TradeWar' https://www.dailyfx.com/forex/video/daily_news_report/2019/12/07/EURUSD-GBPUSD-and-AUDUSD-Top-Volatility-Candidates-On-Fed-Election-Trade-War.html?CHID=9&QPID=917719 https://t.co/Q1dbZVN5Us
  • The Australian Dollar was focused on its home country in the past week, but that is likely to change sharply in the days ahead with major global risk events coming up. Get your $AUDUSD market update from @DavidCottleFX here: https://t.co/yZz3hCyVMx https://t.co/1xw1JHwd7l
  • The #Euro broke chart resistance, threatening to challenge the bounds of its longer -term downtrend against the $USD. Bulls may find it premature to celebrate however. Get your market update from @IlyaSpivak here: https://t.co/VfR13llYbW https://t.co/LiWTvIygxc
  • The $USD appears to be stalling against the Singapore Dollar, Malaysian Ringgit, Indonesian Rupiah and Philippine Peso, but technical analysis may still favor USD strength. Get your market update from @ddubrovskyFX here:https://t.co/AZp98MoXKo https://t.co/jgZMUFVGJB
  • The Indian Rupee soared after the Reserve Bank of India surprised with a rate hold. $USDINR may climb as support reinstates the uptrend ahead of Indian CPI and global trade tensions. Get your market update from @ddubrovskyFX here:https://t.co/QEOabsDfMn https://t.co/rqn8Zjrvkv
  • #Gold closed lower after paring early-week gains post-NFP on Friday. But will price finally break support? These are levels that matter on the $XAUUSD weekly chart. Get your $gld technical analysis from @MBForex here: https://t.co/RILBGhLAQZ https://t.co/q5znMUlEQA
  • German Bund Yields Update: 2-Year: -0.639% 3-Year: -0.651% 5-Year: -0.548% 7-Year: -0.480% 10-Year: -0.290% 30-Year: 0.228%
  • The $AUD erased half of November’s down move in a mere two days but the dominant trend bias continues to favor weakness ahead. Get your market update from @IlyaSpivak here:https://t.co/ShYksfNXyS https://t.co/OVhyNgLRn5
  • We were almost there, but the $SPX fell short of a >1.0% daily change. That raises the tally to 39 consecutive trading days without a climb or fall of even a moderate measure https://t.co/ibt82dBGmh
  • En español: El oro tropieza y se precipita en caída libre. ¿Qué explica las pérdidas del metal dorado y la alta volatilidad en los mercados financieros? #XAUUSD #trading $gold https://t.co/Hdsd0z1qih https://t.co/WKnGaABVS8
FTSE 100 Outlook – 200-day in Play but May Not Matter

FTSE 100 Outlook – 200-day in Play but May Not Matter

2019-05-13 09:30:00
Paul Robinson, Currency Strategist
Share:

FTSE 100 Technical Highlights:

  • FTSE 100 trading around the 200-day MA
  • Long-term moving average may have limited impact
  • Levels to keep an eye on in the coming sessions

For the Q2 FTSE & GBP forecasts, check out the DailyFX Trading Guides page.

FTSE 100 trading around the 200-day MA

In the last FTSE 100 outlook, the focus was on confluent support via the trend-line from December and March high; a threshold which was easily undercut. This shifted attention towards the 200-day MA, which is now under siege with further escalation in the U.S./China trade war keeping global markets on their heels.

The 200-day MA may not turn out to be a big point of support, but with a swing-low from late-March at 7146 not far below we may see some type of near-term buying activity keep the index afloat. Below the late-March low next up is the 7078/41-area, followed by 7000/6968.

Keep an eye on how other global markets are playing out with the trade war as the dominating theme. The DAX is working towards support around 11800, while the S&P 500 is vulnerable as the rising wedge it recently broke down from projects lower levels ahead.

From a tactical standpoint, very short-term minded traders (intra-day) may want to continue to focus on the short-side with in mind the notion that a bounce could develop at any time. It looks a little late in this particular move to put on a good risk/reward swing-short, but at the same time longs don’t hold any appeal without proper price action yet suggesting the decline could be drawing towards an end.

Should we see a bounce soon, given the sharp break in recent sessions, how it unfolds will be of great interest to watch as a continuation pattern of substance could form and give a good look for new short positions.

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

FTSE 100 Daily Chart (trading around 200-day MA)

FTSE 100 Outlook – 200-day in Play but May Not Matter

You can join me every Wednesday 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

News & Analysis at your fingertips.