FTSE100 Analysis | Signals | Forecast | Prediction | FTSE 100 Outlook | Trading help
FTSE100 live outlook prediction analysis for 2nd December 2022
US and European stocks futures fell along with Asian equities as traders awaited a jobs report later Friday for clues on the Federal Reserve’s next policy steps.
Today’s big event is of course USA NFP news out at 1330 with the forecast at 200k, and the unemployment rate forecasted at 3.7%.
Having dropped off the 7620 level yesterday that is the current line in the sand that the bulls will need to break for a push towards the 7700 level or higher. 7540 is the 30m 200ema that has held overnight so we could see an early push up off this towards the 2h Hull MA resistance at 7590.
If the bears really go for it today then a drop down towards the 7500 level may well play out though I would expect to see this hold as we have the S2 and 10d Raff channel bottom here. 7527 is S1 above this though and splitting the 2 key support areas for today.
Initial resistance though is at the 7570 level where we have the daily pivot and just above the now red 30m coral. As such, we could see any initial rise first thing stall here and a drop down to the 7540, 7520 and possibly 7500 areas.
Above the 7590 level then 7620 as mentioned being yesterdays high is the next key level of note, with S2 above that at 7642.
If the NFP data out later gives it a boost then we could in theory get this high. Ironically the S&P500 2h chart is the one that is now bullish, while the FTSE100 2h chart is bearish in a reversal of yesterday.
4040 is looking like key support on the S&P for today and the bulls will be keen to defend this.
For the Dax40, 14400 is the key support and after we did well with that rise off the support yesterday the same again would be good! The bulls will need to crack the 14600 level.
Small word of warning – NFP Friday’s can be a bit strange and as we have had a good week it can pay to be a bit more risk off today – lower stakes and less trades.
Apart from that, have a good day, and a great weekend.
Recommended Broker
IC Markets – offers market leading pricing and trading conditions by providing clients with True ECN Connectivity; this allows you to trade on institutional grade liquidity from the world’s leading investment banks, hedge funds and dark pool liquidity execution venues. Highly recommended!
Membership and Live Trading
If you would like more detailed analysis for FTSE100, DAX, Gold and S&P, including the trades that I am looking to take myself, then please join my active members community.
What you get
- Daily Analysis pre market open (sent around 7am each day) for FTSE100, DAX40, Gold and S&P500.
- Daily email pre market includes my trading plan for the day including ORDER levels, with stops and targets/limits
- Telegram live trading room and webinar group membership for discussion and realtime trade updates
Keep up to date with new content, free sign up below with just your email address