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FxWirePro:FTSE100 forms Bearish pattern, good to sell on rallies

Harmonic Pattern- Bearish AB=CD pattern

 

Potential Reversal Zone (PRZ)- 7510

 

UK100 was trading higher for past 3 weeks and jumped more than 4.5% on account of US-China trade optimism which has increased risk appetite. It hits hits high of 7489 and is currently trading around 7471.UK CPI for Mar came at 1.9% in line with previous month but slightly below forecast of 2%.

 

On the lowerside , near term support is around 7440 and break below will drag the index down till 7400/7385.

 

The near term resistance is around 7510 and any break above will take the index to next level till 7550/7600 level.

 

It is good to sell on rallies around 7500 with SL around 7525 for the TP 7385.

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July 2 15:00 UTC Released

DKCurrency Reserves

Actual

449.6 Stale

Forecast

Previous

451.7 Stale

July 2 13:45 UTC Released

USISM NY Biz Conditions

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50 %

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Previous

48.6 %

January 31 00:00 UTC 812954812954m

ARAnnual Primary Balance*

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2016 bln ARS

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January 31 00:00 UTC 812954812954m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 824774824774m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 812954812954m

ARAnnual Primary Balance*

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2016 bln ARS

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Bln AR bln ARS

January 22 19:00 UTC 824774824774m

ARTrade Balance

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-1541 %

January 31 00:00 UTC 812954812954m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

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Bln AR bln ARS

January 31 00:00 UTC 812954812954m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

January 31 00:00 UTC 812954812954m

ARAnnual Primary Balance*

Actual

Forecast

2016 bln ARS

Previous

Bln AR bln ARS

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