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Trading Signals: FTSE100 Analysis
The FTSE100 is currently approaching a crucial resistance level at 8101.2998. This level has been tested three times in the past, with each test resulting in a bounce back. Traders are now closely monitoring whether the FTSE100 will finally break through this key level.
Trading Strategy:
- Technical indicators suggest a potential breakout, with momentum indicators showing bullish signals.
- The Moving Average Convergence Divergence (MACD) indicator is indicating a bullish trend.
- The Relative Strength Index (RSI) is in the overbought territory, indicating a possible correction.
Correlated Assets:
The movement of the FTSE100 can be correlated with the performance of other major stock indices such as the S&P 500 and the DAX.
Economic Calendar Events:
- Traders should keep an eye on upcoming economic events such as GDP releases, employment reports, and central bank meetings, as they can have a significant impact on the FTSE100.
- Key economic data releases from the UK, such as inflation figures and PMI surveys, can also influence the movement of the FTSE100.
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