Subscribe to RSS

Forex Technical Analysis GB100 : 19 January 2016

Will sideways market persist?

British FTSE 100 stock market index has verged the support of the neutral channel at 3-year low. The bullish momentum may develop in case the level of support stays as it is. The UK economic indicators look better than in EU. Moreover, the positive RSI divergence has formed which is a technical signal. Will FTSE 100 edge up?

The UK GDP in the 3rd quarter was 2.1% year over year while the unemployment was 5.2%. In EU the same indicators were 1.6% and above 10%. The FTSE 100 may react on the UK GDP growth in 4Q 2015 to be released on January 28. This index is highly irresponsive to the slump in oil prices and weak pound. The energy sector accounts for 14.7% of FTSE 100 and the scarce 1.8% in EURO STOXX 50. Within the last 6 months the British index lost 14% while the STOXX edged 18.5% lower. In theory, the correction in oil prices could have supported FTSE 100.

FTSE 100

On the daily chart GB100: D1 has reached the lower boundary of the neutral channel but failed to break down through it. The Parabolic and MACD indicators give sell signals. RSI indicator is close to the oversold zone and has formed the positive divergence. The Bollinger bands have widened which may mean high volatility. The bullish momentum may continue in case the UK’s stock index surpasses the last fractal high at 6012. This level may serve the point of entry. The initial risk-limit may be placed below the Parabolic signal and the 3-year low at 5737. Having opened the pending order we shall move the stop to the next fractal low following the Parabolic and Bollinger signals. Thus, we are changing the probable profit/loss ratio to the breakeven point. The most risk-averse traders may switch to the 4-hour chart after the trade and place there a stop-loss moving it in the direction of the trade. If the price meets the stop-loss level at 5737 without reaching the order at 6012, we recommend cancelling the position: the market sustains internal changes which were not taken into account.

Position Buy
Buy stop above 6012
Stop loss below 5737

0 commentsback to post

Add your comment

Nickname:
E-mail:
Website:
Comment:

Other articlesgo to homepage

Free $100 Non-Deposit Bonus to Everyone – PrivateFX

Free $100 Non-Deposit Bonus to Everyone – PrivateFX(0)

Free $100 Non-Deposit Bonus to Everyone for PrivateFX New Customers. Each new customer who open account from May 16 will get into his/her account a Free bonus of 100 USD to invest in PrivateFX Company’s tools Link:  $100 Non-Deposit Bonus to Everyone Available to: All new trading account Bonus Offer: Free $100 Non-Deposit Bonus to

300% Tradable Bonus plus Risk Free Trade – MarketsYes

300% Tradable Bonus plus Risk Free Trade – MarketsYes(0)

300% Forex Tradable Bonus Promotion and Risk Free Trade plus Forex Free Signals all New and existing clients. MarketsYes is offering all prospective clients deposit for up to 3000 USD/EUR/GBP a 300% Tradable Deposit Bonus. Link:  300% Tradable Bonus Promotion Link:  Risk Free Trade plus Forex Free Signals Available to: All New and existing clients

25% Forex Credit Bonus on their First Deposit – HYCM

25% Forex Credit Bonus on their First Deposit – HYCM(0)

25% Credit Forex Bonus Promo available on your Deposits. Experience Some of HYCM New Features, Services and Offers Receive 25% Forex trading credit bonus Link:  25% Trading Bonus on your Deposits Ending Date:  31 December 2017 Available to:   New Clients only Bonus Offer: 25% Forex Trading Bonus Promo Available on your deposits to New Clients only.

$25 Deposit and earn $5000 Cashback Bonus – UFX

$25 Deposit and earn $5000 Cashback Bonus – UFX(0)

100% Forex Real Money Cash-back Bonus Promotion to all new and existing clients. Join and gain exclusive access to the ONLY online trading 100% Forex Cashback rewards bonus program Link:  100% Real Money Cash-back Promotion Link:  $50 Forex No Deposit Bonus Promotion Available to: All new trading account Ending Date: 31 December 2018 Bonus offer:

Weekly Demo Trading Contest – Adamant Finance

Weekly Demo Trading Contest – Adamant Finance(0)

Weekly Forex Demo Trading Contest 2017 total amount of the prize fund is 1300USD. We announce traders’ contest for all who want to take part and to gain prizes. Link:  $50 No Deposit Welcome Bonus Link:  Weekly Forex Trading Contest Available to: All new and existing clients. Ending Date: 31 December 2017 Contest offer: Forex

$30 Fx Bonus to Your Account Completely Free – Fidelis

$30 Fx Bonus to Your Account Completely Free – Fidelis(0)

Get $30 No Deposit Fx Bonus Promotion in your Fidelis CM account and start your forex trading career. Open your new trading account with Fidelis CM in a few simple steps and get your $30 Fx Free No Deposit Bonus credited in your account. Link:  $30 Forex No Deposit Bonus Completely Free Available to: All

Free Forex Trading Signals Promotion – Forex Time

Free Forex Trading Signals Promotion – Forex Time(0)

FXTM Free Forex Trading Signals Spotting Trading Opportunities Just Got Easier and Up to 200% Withdrawable Cashback Rebates and get $4 Cashback back for every lot you trade. Link:  Free Forex Trading Signals Link:  Loyalty Cashback Promotions Link:  200% Withdraw able Cashback Rebates Ending Date: 31 December 2018 Available to: All Customers Bonus Offer: ForexTime

Free MT4 VPS plus 100% Welcome Bonus – FXGiants

Free MT4 VPS plus 100% Welcome Bonus – FXGiants(0)

FXGiants is offering its valued Trader  the exclusive 100% Maximiser Forex Welcome Bonus. Be rewarded with this unique offer and maximise your trading potential with NO limits. Link:  $35 No Deposit Bonus Promotion Link:  100% Maximiser Deposit Bonus. Link:  20% Bonus Advantage up to $2000 Available to: All new trading account Bonus offer: $35 No

$1000 Welcome Deposit Bonus Promotions – eToro

$1000 Welcome Deposit Bonus Promotions – eToro(0)

Get Forex Welcome Deposit Bonus Promotions code by eToro Forex Broker. Trade over 900 global instruments with most advance and friendly trading platform. Link:  Top Copy Trading Social Platforms Link: Up to $1000 Welcome Deposit Bonus Available to: All new account Ending Date: 31 December 2018 Bonus Offer: Get Forex Welcome Deposit Bonus Promotions code

$50 Forex No Deposit Welcome Free Bonus – ForexBull

$50 Forex No Deposit Welcome Free Bonus – ForexBull(0)

$50 Forex No Deposit Welcome Free Bonus is available to all new clients of ForexBull as well as for those who still haven’t got any previous No Deposit Welcome Free Bonuses from the company. Link:  $50 Forex No Deposit Welcome Bonus Available to: All new trading account Ending Date: 31 December 2017 Bonus offer: $50

read more

Forex Featured Broker

Contacts and information

ForexDepositNews.com Forex Deposit Bonus, Forex No Deposit Bonus, Forex Live Contest, Forex Demo Contest, Free Forex Bonus Forex Brokers Review and Other All Forex promotions.

ForexDepositNews.com

Social networks

Most popular categories