11th June 2018
I am expecting a bit of volatility this week as the Fed, ECB and BOJ will give the monetary policy tone within the next 36 hours. President Trump readies for his summit in Singapore Tuesday with North Korea’s Kim Jong Un. Traders will also get their first chance today to react to the G7 meeting, though fallout in Asia has been limited. Markets are also expecting the Fed to raise rates on Wednesday, continuing the likely scenario of 3 or 4 hikes prediction for 2018. ECB members are poised to hold the first formal talks on ending QE decision – action or just “discussions”….
FTSE 100 Trading Signals, Forecast and Prediction
As mentioned above we are probably going to have a bit of a choppy week, but I am expecting to see some bullishness today. Its not that clear, but if the bulls can defend the 7680 level initially then we may well see a rise towards the fib level at 7736. There is daily resistance at 7754 so a test of this would be good if the bulls are able to keep the momentum going. On Friday we had a decent bounce off the lower support at 7640 and the bulls managed to regain the 7700 level, and the FTSE 100 remains looking bullish for the moment overall. They will be keen however to regain and hold above 7700 today.
Bloomberg’s Asia Report here
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