Following a lengthy consolidation, the FTSE appears to be poking its head above the resistance trend of a triangle formation and resistance circa 8830-35 area today, potentially paving the way for a run to a new all-time high.
This comes as markets have taken the latest tariff threats from Trump in their stride. Equity indices were quick to recoup most of their losses, with US futures trading higher and the DAX hitting a new weekly high today, reaching its highest levels since early June. I
Investors presumably expect more deals to be done before the extended August 1 deadline. After all, Trump himself has said that he’s open to negotiations and that the August 1 deadline for implementation of new levies was “not 100% firm”.
By Fawad Razaqzada, market analyst with FOREX.com
This comes as markets have taken the latest tariff threats from Trump in their stride. Equity indices were quick to recoup most of their losses, with US futures trading higher and the DAX hitting a new weekly high today, reaching its highest levels since early June. I
Investors presumably expect more deals to be done before the extended August 1 deadline. After all, Trump himself has said that he’s open to negotiations and that the August 1 deadline for implementation of new levies was “not 100% firm”.
By Fawad Razaqzada, market analyst with FOREX.com
Trade active
With the FTSE now at new all-time highs, dip buyers will need to monitor old resistance levels closely for potential opportunities. Among these levels, the old highs of around 8900/8910 zone marks a key zone for future dips. Below that the next key support comes in at 8830 area, marking the point of origin of the breakout. The line in the sand now is at 8760ish, the most recent low made prior to the breakout. By Fawad Razaqzada, market analyst with FOREX.com
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.