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
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
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
Bullish
GBP/USD
Mixed
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
More View more
Real Time News
  • 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/TmNxDRxkk0
  • 🇮🇹 Industrial Production MoM (FEB) Actual: 0.2% Expected: 0.7% Previous: 1.1% https://www.dailyfx.com/economic-calendar#2021-04-13
  • 🇮🇹 Industrial Production YoY (FEB) Actual: -0.6% Expected: -2.3% Previous: -2.1% https://www.dailyfx.com/economic-calendar#2021-04-13
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 92.57%, while traders in Wall Street are at opposite extremes with 74.81%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/C9XWwZRalw
  • Heads Up:🇮🇹 Industrial Production MoM (FEB) due at 08:00 GMT (15min) Expected: 0.7% Previous: 1% https://www.dailyfx.com/economic-calendar#2021-04-13
  • Heads Up:🇮🇹 Industrial Production YoY (FEB) due at 08:00 GMT (15min) Expected: -2.3% Previous: -2.4% https://www.dailyfx.com/economic-calendar#2021-04-13
  • Do you know how to properly Identify a double top formation? Double tops can enhance technical analysis when trading both forex or stocks, making the pattern highly versatile in nature. Learn more about the double top formation here: https://t.co/t9Flsqcxo9 https://t.co/U5CGuLb1M0
  • Commodities Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Oil - US Crude: 0.41% Silver: 0.17% Gold: -0.33% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/rtfohURqu1
  • Forex Update: As of 07:00, these are your best and worst performers based on the London trading schedule: 🇬🇧GBP: 0.04% 🇨🇦CAD: -0.12% 🇪🇺EUR: -0.14% 🇦🇺AUD: -0.19% 🇯🇵JPY: -0.21% 🇨🇭CHF: -0.29% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/GU6Cdg7Vfw
  • Indices Update: As of 07:00, these are your best and worst performers based on the London trading schedule: Wall Street: 0.04% Germany 30: 0.01% France 40: -0.00% US 500: -0.06% FTSE 100: -0.22% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/lIQqVcx0qU
FTSE 100 Forecast: Risk of Decline Heightens as Technicals Weaken

FTSE 100 Forecast: Risk of Decline Heightens as Technicals Weaken

Paul Robinson, Strategist

FTSE 100 Technical Highlights:

  • FTSE found opposition near the September high, channel weakening
  • Still potential for big-picture top if a decline begins soon

For our analysts intermediate-term fundamental and technical view on the FTSE and other major indices, check out the Q4 Global Equity Markets Forecast.

FTSE found opposition near the September high, channel weakening

Last week the FTSE traded up very near the September high before rolling over, the area over 7400 is proving to be a resistance zone worthy of attention, it also could be part of large topping pattern that has been building since April.

The head-and-shoulders (H&S) top has not completely formed, of course, until it breaks the neckline that was tested and successfully held last month, down near 7000. A relatively swift turn down form here could put that big-picture scenario back on the map by firming up a complex right shoulder.

But before doing that the market will need to get outside of the channel off the last month’s low. Currently the channel is keeping the market pointed higher in the short-run. Yesterday, the market was breaking the lower parallel of the structure along with the 200-day before recovering into the close.

The generally tepid upward momentum and lagging nature of the FTSE relative to other global indices, sets it up for a fall soon if buyers don’t show up with more conviction. A bearish scenario that is growing teeth. A close below yesterday’s low at 7258 is viewed as a catalyst for further selling.

If the channel continues to keep the market supported, then a climb above the September high at 7440 will need to take place before the H&S pattern can come off the table and momentum can pick up towards the yearly high of 7727.

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

FTSE Daily Chart (watch channel, H&S still on the table)

FTSE 100 Forecast: Risk of Decline Heightens as Technicals Weaken

UK 100 Index Charts by Tradingview

You can join me every Wednesday at 1030 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