Talking Points The FTSE 100 is slightly lower today following the news of terrorist attacks in Brussels and mixed ...
Talking Points
The FTSE 100 is slightly lower today following the news of terrorist attacks in Brussels and mixed German data. Some strategists are saying that the likelihood of a Brexit could increase following the attacks.
The trend remains bullish for now and last week’s low of 6006 is the trend defining level.
The FTSE 100 (FXCM: UK100) is lower by 0.50% at the time for writing, a decline which is partially fueled by the news of terrorist attacks in Brussels. Strategists said to Bloomberg news that the likelihood of a Brexit could increase following these attacks.
Several German economic data reports have been published this morning and they have all been mixed. We watch German data as it affects the DAX and thereby the FTSE 100, with Germany also being one of the biggest trading partners of the U.K.
The German March IFO index beat expectations.
German Markit flash PMI was a tad lower than expected, while the services PMI came in at a solid 55.5 and thereby beat the 55.3 expected (Bloomberg news poll). Both the German ZEW Current situation index and Expectations index printed lower than expected. See our economic calendar for estimates and outcomes.
In the afternoon, U.S. Markit Mfg. PMI is on tap.
Technical trend
The technical trend for the FTSE 100 remains bullish despite today’s softer prices. For the trend to turn bearish price would need to break the March 10 low of 6006 and with this in mind, some people may see today’s softer FTSE 100 as an opportunity to enter in line with the overall bullish trend. Price may reach the next resistance level, which is now the December 29 high of 6321 as long as the trend remains bullish.
On the trend turning bearish, the FTSE could fall to the February 24 low of 5843, as it is the next support level following the March 10 low of 6006.
The FTSE 100 is slightly lower today following the news of terrorist attacks in Brussels and mixed German data. Some strategists are saying that the likelihood of a Brexit could increase following the attacks.
The trend remains bullish for now and last week’s low of 6006 is the trend defining level.
The FTSE 100 (FXCM: UK100) is lower by 0.50% at the time for writing, a decline which is partially fueled by the news of terrorist attacks in Brussels. Strategists said to Bloomberg news that the likelihood of a Brexit could increase following these attacks.
Several German economic data reports have been published this morning and they have all been mixed. We watch German data as it affects the DAX and thereby the FTSE 100, with Germany also being one of the biggest trading partners of the U.K.
The German March IFO index beat expectations.
German Markit flash PMI was a tad lower than expected, while the services PMI came in at a solid 55.5 and thereby beat the 55.3 expected (Bloomberg news poll). Both the German ZEW Current situation index and Expectations index printed lower than expected. See our economic calendar for estimates and outcomes.
In the afternoon, U.S. Markit Mfg. PMI is on tap.
Technical trend
The technical trend for the FTSE 100 remains bullish despite today’s softer prices. For the trend to turn bearish price would need to break the March 10 low of 6006 and with this in mind, some people may see today’s softer FTSE 100 as an opportunity to enter in line with the overall bullish trend. Price may reach the next resistance level, which is now the December 29 high of 6321 as long as the trend remains bullish.
On the trend turning bearish, the FTSE could fall to the February 24 low of 5843, as it is the next support level following the March 10 low of 6006.
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
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Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
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