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Trading Signals for FTSE100
The FTSE100 is currently showing a Channel Up formation on the chart, indicating that a breakout is likely to occur in the near future. This trading signal presents a great opportunity for both trend and swing traders to capitalize on potential market movements.
Technical Indicators Used:
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- Channel Up formation
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- Support line testing
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- Divergence patterns
Traders who specialize in spotting divergences may be particularly optimistic about the possibility of a breakout, especially as the price approaches a key support line that has been tested multiple times in the past.
When trading the FTSE100, it is important to consider the correlation with other assets such as the S&P 500, Dow Jones Industrial Average, and NASDAQ, as movements in these indices can impact the FTSE100 as well.
Economic Calendar Events:
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- UK GDP releases
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- Bank of England interest rate decisions
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- US Non-Farm Payrolls
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- European Central Bank policy announcements
Keeping an eye on these economic events can provide valuable insights into potential market movements and help traders make informed decisions when trading the FTSE100.
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