FTSE is grinding higher...but currently it is not taking out key resistance that it has to make sure we continue higher….We have this 7184/85 through to 7200 and this is really why we have to break this barrier….we have come off a lot from the overbought conditions we have seen recently ..and although still overbought we can assume that unless we take out 7200...and quickly the market will fall..

7117 held yesterday….so our support is intact...the short and med term pivots have not changed...thus they are still in play...Obviously the daily pivots change daily...and therefore we are going to se if we can stay above the DP today which is at 7145…

Now currently pre open we are in no mans land...7166….so lets see how we open...give it time to settle...It is not like we have not tried to break the 7200 barrier….we have...we have hit it 5 times on the 4 hrly time charts...but we are just not breaking it….Now as the US market has broken the 200 day M/A and we know FTSE does follow...and you know Weds is usually a high Vol day...Although it is the 13th !!!..maybe this is the day FTSE finally makes its break…

Bed careful...Although the 4 hrly charts are not yet overbought...they are heading that way….maybe it will be a false break...but with the US breaking higher on the actual cash market...I am wondering if this week is the week we finally do break topside….I would hope that at least something happens in FTSE because it is stagnating at the moment...and range bound...and we hate rangebound markets…. 



The research provided by Charmer Charts is provided solely to enable clients to make their own investment decisions and does not constitute personal investment recommendations. No recommendations are made directly or indirectly by Technicalanalysisreports.com or Charmer Charts as to the merits or suitability of any investment decision or transaction that may result directly or indirectly from having viewed the technical analysis investment research. Customers are therefore urged to seek independent financial advice if they are in any doubt. The value of investments and the income derived from them can go down as well as up, and you may not get back the full amount you originally invested. Derivatives and foreign exchange trading are particularly high-risk, high-reward investment instruments and an investor may lose some or all of his or her original investment. Also, if you decide to acquire any investment denominated in a different currency you should note that changes in foreign exchange rates may have an adverse effect on the value, price and income of the investment in your own currency. Technicalanalysisreports.com or Charmer Charts shall not be liable for any direct or indirect, incidental or consequential loss or damage (including loss of profits, revenue or goodwill) arising from the use, inability to use, interruption or non-availability of the technical analysis investment research or any part of the research materials published or otherwise any loss of data on transmission, howsoever caused. Whilst the research material published is believed to be reliable and accurate, it is not independently verified. Accordingly, no representation or warranty is made or given by Technicalanalysisreports.com or Charmer Charts, its officers, agents or employees as to the accuracy or completeness of the same and no such person shall have liability for any inaccuracy in, or omission from, such materials.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD falls to two-week lows as trade wars escalate, strong US data

EUR/USD is hovering above 1.1150, the lowest in two weeks as Chinese media reported that the country is no longer interested in talks with the US after the latter blacklisted Huawei. US Consumer Sentiment beat with 102.4.


GBP/USD hits lowest since January as cross-party Brexit talks collapse

GBP/USD hits the lowest levels since January, below 1.2750. The UK's Labour Party said there is no point in talking with a government about to collapse. UK PM May is set to step down in June.


USD/JPY fails again to break 110.00, turns flat for the day and the week

The USD/JPY pair found support around the 109.50 area and bounced to the upside, erasing losses.


Bitcoin price update: BTC reclaims $7,000, recovery stalled

Bitcoin (BTC) has recovered from a scary flash crash that took it all the way down from $7,800 to as low as $6,512. The first digital coin lost about 16% of its value in a matter of hour with no particular reason .

Read more

Gold breaks to the downside hits 2-week lows near $1275

Gold prices accelerated to the downside today and particularly after the beginning of the American session, resuming the bearish move. The yellow metal is falling for the fourth day in-a-row and it is down almost $30 from the weekly high. 

Gold News