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
Mixed
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
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
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
Mixed
USD/JPY
Bullish
More View more
Real Time News
  • 🇺🇸 Jobless Claims 4-week Average (FEB/27) Actual: 790.75K Previous: 807.5K https://www.dailyfx.com/economic-calendar#2021-03-04
  • 🇺🇸 Initial Jobless Claims (27/FEB) Actual: 745K Expected: 750K Previous: 736K https://www.dailyfx.com/economic-calendar#2021-03-04
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Silver are long at 91.89%, while traders in Germany 30 are at opposite extremes with 66.38%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/OyiaWxTOe9
  • Technical analysis of charts aims to identify patterns and market trends by utilizing differing forms of technical chart types and other chart functions. Learn about the top three technical analysis tools here: https://t.co/KDjIjLdTSk https://t.co/BBKTkI9fWl
  • German Finance Min. Scholz: Germany will need to take on extra debt in 2021. $EUR
  • Forex Update: As of 13:00, these are your best and worst performers based on the London trading schedule: 🇦🇺AUD: 0.19% 🇨🇦CAD: 0.10% 🇳🇿NZD: 0.04% 🇪🇺EUR: -0.24% 🇯🇵JPY: -0.34% 🇨🇭CHF: -0.39% View the performance of all markets via https://www.dailyfx.com/forex-rates#currencies https://t.co/6Fc3eqZNSZ
  • Heads Up:🇺🇸 Initial Jobless Claims (27/FEB) due at 13:30 GMT (15min) Expected: 750K Previous: 730K https://www.dailyfx.com/economic-calendar#2021-03-04
  • Heads Up:🇺🇸 Jobless Claims 4-week Average (FEB/27) due at 13:30 GMT (15min) Previous: 807.75K https://www.dailyfx.com/economic-calendar#2021-03-04
  • Heads Up:🇺🇸 Continuing Jobless Claims (20/FEB) due at 13:30 GMT (15min) Expected: 4300K Previous: 4419K https://www.dailyfx.com/economic-calendar#2021-03-04
  • Consolidation or bull flag? A bull flag is a continuation pattern that occurs as a brief pause in the trend following a strong price move higher. Learn how to better spot these formations here: https://t.co/yOEvLjKnct https://t.co/H4Rl1uWo6n
FTSE 100 Rolling Over, Testing Support; Watch General Risk Trends

FTSE 100 Rolling Over, Testing Support; Watch General Risk Trends

Paul Robinson, Strategist

FTSE 100 Technical Highlights:

  • FTSE rolling over towards support levels
  • A snapback may be nearing, but watch general risk trends
Advertisement

The FTSE 100 is rolling over, with the past couple of days having brought over 2% of losses at the time of this writing. This is certainly putting the rise from early November to the test. Generally speaking risk appetite has been waning on a global basis, with US stocks also weakening a bit this week.

The trend in risk appetite may be the deciding factor as to whether support levels hold or fold. Currently the FTSE is testing a level that dates to the December 2018 low that then came into play as resistance in June.

There was a good deal of back-and-forth price action around the 6500 level in December, but it made for a rather wide zone. From around 6500 down to 6315 (Dec 21 low) is eyed as an area to watch the UK index to potentially turn higher from.

But again, keep an eye on general risk trends, namely US stocks (over 50% of world market cap). Yesterday they took a nasty spill and are testing technical thresholds we looked at the other day. A breakdown in the US is likely to lead to further weakening in the UK and elsewhere.

For now, watching how the decline unfolds as support comes into view. If we see an aggressive snapback suggesting buying interest, then perhaps the top-side can come back into play with the area around 7k viewed as the next big top-side target. If we don’t see a turnaround here and the aforementioned levels don’t hold, look for the 200-day at 6161 to come into play.

Equities Forecast
Equities Forecast
Recommended by Paul Robinson
Check out the Q1 Stock Market Forecast
Get My Guide

FTSE Daily Chart (probing support levels)

FTSE 100 daily chart

FTSE Charts by TradingView

Resources for Forex Traders

Whether you are a new or experienced trader, we have 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