Technical Analysis – UK100 stock index soars above 200-SMA; gains halted at 76.4% Fibonacci

Posted on October 24, 2019 at 3:13 pm GMT

UK100 stock index rallied above the 200-period simple moving average (SMA) on the four-hour chart and up to 7,337, reinforcing the 3-week positive picture and confirming the bounce off the 7,000 level on October 3. The MACD is rising above its red trigger line in the positive zone, favoring more improvements. Despite the pause in the market, a bullish crossover of the 100-period SMA by the 50-period has occurred, while the Tenkan-sen line has distanced itself above the Kijun-sen line, [..]


Technical Analysis – UK100 stock index plummets; buyers resurface ahead of 7000 level

Posted on October 3, 2019 at 3:35 pm GMT

UK stock index collapsed aggressively from the two-month high of 7,440 right through the simple moving averages (SMAs), erasing all gains that commenced on August 15. The MACD has distanced itself in the negative region below its red trigger line, reflecting the negative sentiment in the market. Yet, the upward slope in the RSI, which has deepened into the oversold area, warns traders that the move down is probably looking for a bottom. A significant move above the 7,050 level [..]


Technical Analysis – UK100 stock index holds onto bullish bias but is losing momentum

Posted on September 19, 2019 at 2:57 pm GMT

UK100 stock index has been mostly on the sidelines so far this month, bouncing back and forth between the 38.2% and 50% Fibonacci retracement levels of the downleg from 7,729 to 7,018. Interestingly, though, the price continues to keep intact the rebound from the 6-month low of 7,018 while holding above the Ichimoku cloud. The momentum indicators are currently suggesting that there is some upside pressure in store as the RSI is comfortably above its 50 neutral mark. Yet, the gradual improvement in the MACD indicates [..]

Technical Analysis – UK100 index soars to one-year highs

Posted on July 30, 2019 at 10:14 am GMT

The UK100 stock index recorded its best daily gain in more than three years on Monday, while early on Tuesday the market opened even higher to top at 7728, the highest price since last August. According to the stochastics, there is still some room for improvement as the indicator is positively sloped and has yet to print a bullish cross above its 80 overbought mark. The MACD is picking up steam as well and is above its red signal line, [..]


US Open Preview – Sterling largely consolidates massive losses with PM May’s leadership on tightrope

Posted on November 16, 2018 at 12:28 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was slightly up versus a basket of currencies, with the closely watched British currency being broadly higher. Still, the pound mostly consolidated Thursday’s sharp losses on the back of the Brexit drama that unfolded, and which still appears to have room to run. One exception was the yen, which came on the receiving end of safe-haven flows and thus the pound was unable to advance against it – pound/yen [..]


US Open Preview – Bad day for the pound as May’s future hangs in balance; dollar capitalizes

Posted on November 15, 2018 at 1:03 pm GMT

Here are the latest developments in global markets: FOREX:  Although the British Cabinet approved the EU-UK divorce terms agreed between the sides on Tuesday, the deal threw British politics into chaos as Theresa May faces a possible vote of no confidence. Opposition to May’s Brexit plans is growing as the Brexit Secretary Dominique Raab as well as a few other ministers decided to resign on Thursday, expressing in that way their opposition to the deal struck. The news fuelled strong doubts [..]


US Open Preview – Pound awaits Cabinet Brexit meeting; Powell’s speech in focus

Posted on November 14, 2018 at 12:39 pm GMT

Here are the latest developments in global markets: FOREX:  Questions about whether the UK Parliament would ever accept the draft divorce deal approved by the UK and the EU on Tuesday derailed investors’ mindset early in the European session, and ahead of a Cabinet meeting later today. While forecasts are for the Cabinet to accept the agreement, investors think that the Parliament will vote against it, especially if the deal involves an extension of the transition period beyond 2020. Pound/dollar slid to 1.29 before [..]


Technical Analysis – UK100 stock index could see further weakness

Posted on November 14, 2018 at 9:35 am GMT

UK100 stock index (FTSE 100) has rebounded somewhat after falling to an 8-month low of 6,850 on October 26 but momentum indicators now suggest that the market sentiment might get worse before getting better as the RSI is reversing back to the downside after failing to break decisively  above its 50-neutral threshold. The MACD also looks to be changing direction, moving down to meet its red signal line in negative zone. Should bearish dynamics dominate, the market might revisit the 6,850 bottom before meeting [..]


US Open Preview – Euro slightly up before Italy’s budget deadline; Oil in the red

Posted on November 13, 2018 at 12:36 pm GMT

Here are the latest developments in global markets: FOREX: Three-month average earnings including bonuses grew by 3.0% y/y in September in the UK, while the ex-bonus measure jumped by 3.2% y/y versus 3.1% expected. The pound, though, showed little reaction to the data as the unemployment rate inched up by 0.1 percentage points to 4.1%. Still, pound/dollar managed to spike to 1.2961 before a pullback to 1.2944 (+0.86%) after  government sources supported that a Brexit deal is closer now than [..]


US Open Preview – Dollar index registers fresh highs as pound and euro struggle; oil holds up

Posted on November 12, 2018 at 12:25 pm GMT

Here are the latest developments in global markets: FOREX: The dollar was overperforming early in the European session on Monday as political uncertainties in Europe and strong optimism on the US economy, persuaded traders to invest more in the greenback despite Trump’s Republicans losing control of the House of Representatives last week. The dollar index gained 0.60% to rise as high as 97.57, a level never seen since June 2017. Dollar/yen spiked to a five-week high of 114.20, but it soon returned to 113.91, near [..]

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