Looking bearish | 7640 7680 resistance | Asia struggles for direction | Analysis Signals Alerts Education

29th August 2018
Decent day yesterday for the Dax short and then catching the FTSE bounce with the 7595 support area holding well. Overnight the bulls have brought it up further to retest the 7640 area and 7671 still looking like being tested. U.S. stocks eked out a gain to claim a fresh closing record Tuesday, while Treasury yields climbed as investors assessed the latest developments from the Trump administration’s trade policies. The S&P 500 fluctuated throughout the day, rising past 2,900 for the first time before slipping back below that level. The US president and Mexico agreed on new terms for the deal first agreed between the two countries and Canada in 1994. Mr Trump, who has been a fierce critic of NAFTA, said that the new deal was “much more fair”.

FTSE 100 Trading Signals, Forecast and Prediction

We have US GDP data out at 1330 which is likely to move the indices a bit, and gold looks to be defending the 1200 support area after dropping back yesterday. May well get the gold up, indices down pattern play out later today. Cable (USDGBP) still bouncing around between 128/129 and will probably drop to 125 at some point soon – which would help support the FTSE 100 bulls.

Brexit talk resumed yesterday and UK and EU officials are said to view mid-November as the new Brexit deal deadline and are said to view an agreement by October as unlikely. Meanwhile, central banks and sovereign wealth funds are likely to sell up to £100bn of UK bonds and precipitate a balance of payments crisis if Brexit talks break down in acrimony, Bank of America has warned clients.

Membership

If you would like more detailed analysis for FTSE 100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.

Results

I keep a record of all the trades communicated to members via the morning email trade plan and those alerted live. See the results here.

What you get

• Daily Analysis pre market open (sent around 7am each day) for FTSE, DAX, Gold and S&P.
• Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
• Telegram Chat room and webinar group membership for discussion and realtime trade updates