Advertisement
Australia markets close in 1 hour 33 minutes
  • ALL ORDS

    7,942.00
    +16.80 (+0.21%)
     
  • ASX 200

    7,689.30
    +13.50 (+0.18%)
     
  • AUD/USD

    0.6542
    -0.0018 (-0.28%)
     
  • OIL

    82.58
    -0.14 (-0.17%)
     
  • GOLD

    2,164.60
    +0.30 (+0.01%)
     
  • Bitcoin AUD

    99,419.24
    -4,169.52 (-4.03%)
     
  • CMC Crypto 200

    885.54
    0.00 (0.00%)
     
  • AUD/EUR

    0.6013
    -0.0014 (-0.23%)
     
  • AUD/NZD

    1.0778
    -0.0000 (-0.00%)
     
  • NZX 50

    11,789.74
    +61.73 (+0.53%)
     
  • NASDAQ

    17,985.01
    +176.76 (+0.99%)
     
  • FTSE

    7,722.55
    -4.87 (-0.06%)
     
  • Dow Jones

    38,790.43
    +75.66 (+0.20%)
     
  • DAX

    17,932.68
    -3.97 (-0.02%)
     
  • Hang Seng

    16,593.03
    -144.09 (-0.86%)
     
  • NIKKEI 225

    39,596.29
    -144.15 (-0.36%)
     

FTSE 100 Price Forecast March 15, 2018, Technical Analysis

The FTSE 100 was noisy during trading on Wednesday, as we try to reach towards the 7165 handle, but failed. The market has rolled over completely during the trading session, showing signs of exhaustion again, as the market continues to roll over into a “risk off” attitude.

The FTSE 100 initially rally during the day on Monday but struggled above the 7165 level. We rolled over to show signs of exhaustion again, and it looks as if we are going to go looking towards the 7100 level. That’s an area that should be supportive, so I think that we could find buyers in that area, however, if we were to break down below the 7080 level, the market probably goes down to 7050, and then eventually the 7000 handle. On the other side of the coin, if we were to make a fresh, new high and break above the 7175 level, the market could go looking towards the 7250 level. This is a market that is going to be very sensitive to risk in general, as most markets are. The day has been rather rough on Wednesday, so it makes sense that we failed to hang on the gains. It’s likely that it will take some time to clear the air so to speak, but I think that the FTSE 100 will probably follow would goes on the GBP/USD pair.

FTSE 100 Video 15.03.18

We have the possible breaking out of the British pound above the 1.45 handle, and that of course would put downward pressure on the FTSE 100, at least short-term as it would make the idea of British exports being more expensive. Longer-term though, I think that both will probably continue to go higher. Just be aware of the fact that there could be a lot of noise.


Suggested Articles

ADVERTISEMENT

This article was originally posted on FX Empire

More From FXEMPIRE: