Forex Update: As of 14:00, these are your best and worst performers based on the London trading schedule: 🇯🇵JPY: -0.01% 🇪🇺EUR: -0....A close below this and the 100-day SMA would mark a bearish development and open the way to support at 8044 and then 7976. Buyers will need a recovery back above 8150 to suggest that support has been recovered.Yesterday saw the index drop 2% for the first time in 356 trading days, its longest streak since 2017.
The price has returned to the 50-day SMA for the first time since late May. Further declines will test possible support at 5350 and then 5274. A close back above 5500 in the short-term might suggest that a low has formed, and could put the price on course to test recent highs.has slumped 11% from its July high to the current low, returning to the 200-day SMA for the first time since 31 October. This move completely wipes out the gains made in the index from late June.
In the short-term, a close back above 38,000 might suggest a low has been formed, though it would then need to push past the 39,000 area from May and June to solidify hopes of a sustainable bounce.Leveraged trading in foreign currency or off-exchange products on margin carries significant risk and may not be suitable for all investors. We advise you to carefully consider whether trading is appropriate for you based on your personal circumstances. Forex trading involves risk.
We recommend that you seek independent advice and ensure you fully understand the risks involved before trading. Information presented by DailyFX Limited should be construed as market commentary, merely observing economical, political and market conditions. This information is made available for informational purposes only. It is not a solicitation or a recommendation to trade derivatives contracts or securities and should not be construed or interpreted as financial advice.
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