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Ftse100

FTSE Ahead of a major bullish break-out.The FTSE 100 Index (UK100) is consolidating above the Support of the 1D MA200 (orange trend-line) with the 1D RSI at 66.250. This is the symmetrical level is was trading at during the November 04 - 09 2022 consolidation. Both near the 1.5 Fibonacci extension level. That fractal eventually broke upwards, hit the Lower Highs trend-line (the dominant Resistance) and extended to Fib 2.0 even marginally surpassing the Resistance of the last Lower High. We are going long on that buy signal and target the 7900 (Fib 2.0). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:UK100Long
by TradingShot
FTSE 100 BOUNCES BACK ON UK INFLATION NEWSParticipants in financial markets were closely watching yesterday the data on inflation in the UK, where it is at the highest level among the G7 countries. The news turned out to be positive: → CPI was 7.9% (forecast = 8.2%, last month = 8.7%) in annual terms; → core CPI dropped from 31-year high from 7.1% to 6.9%. Consequently: → the price of the British pound fell against the US dollar and other currencies; → the price of the FTSE 100 index rose sharply, rising from the July lows by about 5%. Thus, the quotes demonstrate the expectations of market participants — they suggest that the Bank of England has received a reason to ease the ongoing tight monetary policy aimed at suppressing inflation. The publication of the decision of the Bank of England is scheduled for August 3, and the interest rate can be raised only by 0.25%, although earlier 0.5% was called more likely. The sharp rise in the price of the FTSE 100 has led to the fact that the descending channel is broken, as is the resistance level at 7,555. It is possible that after such a sharp impulse, we will witness a consolidation period, which may be limited to the levels of 7,555 and 7,690. This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
FXOPEN:UK100
by FXOpen