Skip to main content

Learn To Trade Forex • Best Forex Trading Course • AsiaForexMentor

FTSE 100 holds key support levels amid slowdown

Written by

Ezekiel Chew

Updated on

July 23, 2024

i
Its a default text

FTSE 100 holds key support levels amid slowdown

Written by:

Last updated on:

July 23, 2024

FTSE 100 Faces Resistance

The FTSE 100 index experienced a rally yesterday, but momentum waned in early Tuesday trading.

Despite its inability to maintain a sustained rally, the price has consistently held above 8100 since May, establishing a robust support area. A close below 8100 could lead to a quick decline, targeting 8044 and then dropping to 7976.

FTSE 100 Daily Chart (Source: DailyFX)

S&P 500 Recovers Post Losses

S&P 500 Daily Chart (Source: DailyFX)

Monday saw the S&P 500 index rebound after enduring three consecutive days of losses last week.

The bounce from 5500 now aims at the previous week’s highs, with the potential for a brief move to new record highs if gains continue. However, a close below 5500 would likely signal further short-term weakness.

Nikkei 225 Reverses Trend

Nikkei 225 Daily Chart (Source: DailyFX)

Monday's rally hinted at renewed upside for the Nikkei 225, but this has been postponed for now.

The index declined overnight but has so far avoided closing below the 50-day simple moving average (SMA). Bulls need a close back above 40,000 to suggest a possible low, while sellers will focus on a close below the 50-day SMA to indicate more near-term downside.

About Ezekiel Chew​

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

How to Read Candlesticks (Most Traders Get This Wrong)

Most traders who spend months learning how to read candlesticks still lose on setups that looked textbook. The pattern was never the problem. Reading it without context was. ABOUT THIS GUIDE This guide covers three specific candlestick signals used in professional price action trading, the Fibonacci golden zone context tool,

Read More

What Profit Factor Tells You Before Going Live

Profit factor is calculated by dividing a strategy’s total gross profit by its total gross loss, and most experienced traders reject any system that reads below 1.5 before risking real capital. Most traders see any positive number and call it a green light. That is where the costly mistake starts.

Read More

6 Forex Trading Scams Every Beginner Should Know

The most effective forex trading scams do not announce themselves as threats. They arrive as opportunities, come through referrals and social media, and are often indistinguishable from legitimate services until the first withdrawal request is made. ABOUT THIS GUIDE This guide covers the six most common forex trading scams, the

Read More

How to Use Fibonacci Retracement Step by Step in 2026

Most traders learn how to use Fibonacci retracement and immediately draw it wrong. This tool comes from a mathematical sequence first documented in 1202, and institutional traders use it daily to plan entries at precise price levels. The majority of retail traders miss the one placement rule that makes every

Read More

Free Margin in Forex What the MT4 Panel Shows

Free margin in forex is the one figure on the MT4 or MT5 account panel that determines whether another position can open right now, and it is consistently the last number most traders learn to read. ABOUT THIS GUIDE This guide explains what free margin is and how it connects

Read More

Scalping Trading Strategy The Pros Actually Use

The scalping trading strategy most retail traders use is not actually scalping. They are gambling on 1-minute candles with no defined edge, no position-sizing rules, and no plan for when the losses come. ABOUT THIS GUIDE This guide covers what scalping is, how professional scalpers build a repeatable edge, and

Read More

AFM Trading Summit Live

Date: Coming Soon

Join us at the AFM Trading Summit Live and learn from top industry experts through live trading sessions, market insights, and actionable strategies.

FTSE 100 holds key support levels amid slowdown

4.0
Overall Trust Index

Written by:

Updated:

July 23, 2024

FTSE 100 Faces Resistance

The FTSE 100 index experienced a rally yesterday, but momentum waned in early Tuesday trading. Despite its inability to maintain a sustained rally, the price has consistently held above 8100 since May, establishing a robust support area. A close below 8100 could lead to a quick decline, targeting 8044 and then dropping to 7976.
FTSE 100 Daily Chart (Source: DailyFX)

S&P 500 Recovers Post Losses

S&P 500 Daily Chart (Source: DailyFX)
Monday saw the S&P 500 index rebound after enduring three consecutive days of losses last week. The bounce from 5500 now aims at the previous week’s highs, with the potential for a brief move to new record highs if gains continue. However, a close below 5500 would likely signal further short-term weakness.

Nikkei 225 Reverses Trend

Nikkei 225 Daily Chart (Source: DailyFX)
Monday's rally hinted at renewed upside for the Nikkei 225, but this has been postponed for now. The index declined overnight but has so far avoided closing below the 50-day simple moving average (SMA). Bulls need a close back above 40,000 to suggest a possible low, while sellers will focus on a close below the 50-day SMA to indicate more near-term downside.
ezekiel chew asiaforexmentor

About Ezekiel Chew

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

RELATED ARTICLES

FTSE 100 holds key support levels amid slowdown

4.0
Overall Trust Index

Written by:

Updated:

July 23, 2024

FTSE 100 Faces Resistance

The FTSE 100 index experienced a rally yesterday, but momentum waned in early Tuesday trading. Despite its inability to maintain a sustained rally, the price has consistently held above 8100 since May, establishing a robust support area. A close below 8100 could lead to a quick decline, targeting 8044 and then dropping to 7976.
FTSE 100 Daily Chart (Source: DailyFX)

S&P 500 Recovers Post Losses

S&P 500 Daily Chart (Source: DailyFX)
Monday saw the S&P 500 index rebound after enduring three consecutive days of losses last week. The bounce from 5500 now aims at the previous week’s highs, with the potential for a brief move to new record highs if gains continue. However, a close below 5500 would likely signal further short-term weakness.

Nikkei 225 Reverses Trend

Nikkei 225 Daily Chart (Source: DailyFX)
Monday's rally hinted at renewed upside for the Nikkei 225, but this has been postponed for now. The index declined overnight but has so far avoided closing below the 50-day simple moving average (SMA). Bulls need a close back above 40,000 to suggest a possible low, while sellers will focus on a close below the 50-day SMA to indicate more near-term downside.
ezekiel chew asiaforexmentor

About Ezekiel Chew

Ezekiel Chew, founder and head of training at Asia Forex Mentor, is a renowned forex expert, frequently invited to speak at major industry events. Known for his deep market insights, Ezekiel is one of the top traders committed to supporting the trading community. Making six figures per trade, he also trains traders working in banks, fund management, and prop trading firms.

RELATED ARTICLES

Join the Live Event
Get Your Free Ticket Now

I consent to receiving emails and/or text message reminders for this event.

REGISTER FOR THE MASTERCLASS!