Watching for 7715 | Learn to trade analysis signals alerts| Day trading strategies

Watching for 7715 | Learn to trade analysis signals alerts| Day trading strategies

Day Trading Strategies

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Today’s Analysis

20th July 2018

The FTSE 100 bounced just above the 7650 support at 7660, and managed a climb to 7700, whereupon it promptly dropped again, with the bulls failing to reach the 7715 level. The range is still 7650 to 7715 for today, and we also have option expiry at 10:10 this morning so likely to see a bit of movement then.

Meanwhile, global bond investors have been joining their U.S. counterparts in driving yield curves flatter, adding to signs that escalating trade tensions are depressing expectations for economic growth and inflation. Fed rate hikes kicked off the trend, but now other central banks are tightening policy, and developing economies have had to act to support sliding currencies. The upshot is that short-term rates are rising faster than longer maturities in a slew of markets worldwide, a potential source of concern for officials wary of the recessionary signals that curve flattening sends.

Commodities are also suffering, with gold and others dropping sharply, amid mounting concerns that a trade war could derail global growth, curbing demand for everything from aluminum to soybeans. Gold, a traditional haven asset, failed to catch a bid as the dollar strengthened and the Federal Reserve signaled more increases in borrowing costs this year, curbing the investment appeal of the non-interest-bearing metal.


FTSE 100 Trading Signals, Forecast and Prediction

Just be aware of option expiry at 10:10 this morning, so a little bit of chop then is expected. For today I am still watching the 7650 to 7715 areas as the main range for the moment.

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