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Market Analysis

Home » Latest News » FTSE Poised For Major Move Amid NFP Release

FTSE Poised For Major Move Amid NFP Release

Posted by EliasX31hwtshkk in Latest News - September 4th, 2015 8:07 am GMT

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The FTSE 100 followed European equities higher, with the London benchmark advancing 1.82% and closing the day at 6,194.10, after the ECB suggested it could extend its bond buying program, if required.

Airlines were among the biggest winners, after Easyjet forecast profits of between £675m and £700m thanks to record traffic figures, ending up 5.4%, whilst IAG surged also with the news, up 4.6%. For more forex technical analysis articles you may visit fxbinarypoint forum.

The index has now more technical chances of extend its advance, as the technical indicators surged above previous weekly highs and maintain their bullish strength, although still below their mid-lines.

The 20 SMA in the same chart heads sharply lower well above the current level, which means  the downward risk is not over yet. In the 4 hours chart, the outlook is less clear, as despite the index holds above a mild bullish 20 SMA, the technical indicators turned lower around their mid-lines, limiting chances of a stronger advance, unless the index managed to extend beyond 6,259, last Friday’s high.

Support levels: 6,104 6,018 5,983

Resistance levels: 6,203 6,259 6,720

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