FTSE 100 Trades Lower Ahead of Fed

FTSE 100 underperforms its European peers today giving up 0.54 percent at 7,604 as US-China negotiations finished early, although there was reportedly a “willingness to continue discussions”. FTSE 100 has totally discounted the Johnson election and now the focus turns on the Brexit strategy that Johnson will follow.

On the technical side FTSE 100 is in bullish momentum despite today’s losses as it holds above the upward trend line which started early June and continues trading above all major moving averages. Long positions will face resistance at 7,648 the daily high while more offers will emerge at 7,700 zone the high back from August 2018. On the downside immediate support stands at 7,430 the 50 day Moving Average and then at 7,378 the 100 day moving average.

European indices are trading higher midday, with DAX 30 adding 0.21% to 12,175 while the CAC 40 in Paris adds 0.07 percent at 5,513.

In Wall Street, the Dow Jones futures trading 0.27% higher at 27,237, the S&P 500 futures are 0.20% higher at 3,018 while the Nasdaq futures are 0.39% higher at 7,994 signaling a positive start for equities in the other side of the Atlantic.Don’t miss a beat! Follow us on Twitter.