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FOMC Rates with potential dip and rise | 8261 8227 8200 support | 8310 8358 resistance

#1 · 18th September 2024, 9:59 am

Technical analysis for FTSE 100 for 18th September 2024

We have the FOMC news today with a forecasted rate cut of 25bps, though there is the possibility of a 50bps - 25 more likely though. That news is out at 19:00, with the press conference after at 1930. As such expect some volatility in the lead up to this.

For the FTSE100, having dropped from the 8352 level yesterday it's held steady around the 8300 area, with the 30m 200ema providing support as expected, at the 8275 level. As such these two levels are the range for today and will need to break one way or the other.

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