Discussion Forum for trading analysis, help, signals and learning how to trade. Chat with other traders , post analysis, trades and ask questions. This is the public part of my website. For more in-depth discussions please consider joining to chat with other members

ForumTrading Forum with market discussion and live trades: Market DiscussionBoE Rate news today with hold exp …

Please or Register to create posts and topics.

BoE Rate news today with hold expected | 7410 7454 resistance | 7370 7350 support

#1 · 2nd November 2023, 10:27 am

Technical analysis for FTSE 100 for 2nd November 2023

The FTSE 100 closed up 0.28pc at 7,342.43, as investors increasingly expected the US Federal Reserve to keep interest rates on hold, as they in fact did. Meanwhile, the FTSE 250 midcap index ended 0.6pc higher at 17,185.89.

A great start to November yesterday with all the trades panning out well. Going to be a bit more cautious today though as we head towards the BOE at midday and a likely hold of rates at 5.25%. I am thinking that we may we will see a buy the rumour sell the news day and we finally test that 7417 daily resistance level. We have some key resistance on the 30m chart just below that though with the key fib at 7408 and the R1 level at 7405.