FTSE 100 Came Into Today Down -0.25%

News Releases Impacting FTSE 100

  • Forecasted BoE Interest Rate Decision in United Kingdom: 0.75%. The previous number: 0.5%. (50% difference between the two.)

The Daily View for FTSE 100

  • At the moment, UKX’s price is down -17.77 (-0.25%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on FTSE 100. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between UKX’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in UKX’s price.

Below is a daily price chart of FTSE 100.

UKX

Featured FTSE 100 Idea From TradingView

Below is a trading comment entitled GBP/USD Forecast: Technicals reveal lack of recovery momentum you may find interesting:

GBP/USD has struggled to extend rebound beyond 1.3050.Risk-averse market environment caps the pair’s upside on Tuesday.Sellers could take action in case pound drops below 1.3000.GBP/USD has staged a rebound after having tested 1.3000 support but has struggled to preserve its bullish momentum. The pair clings to modest daily gains below 1.3050 in the early European session but the negative shift witnessed in market mood is making it difficult for the British pound to continue to gather strength against the greenback.Late Monday, the Ukrainian presidential adviser said that they were hoping to reach a peace deal with Russia by May at the latest. Although th…

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